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During the auditing process the auditor finds that the entity never updates the customers risk assessment. Which remediation actions should the auditor suggest? (Select Two.)
Suggested Answer: A, E
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27 comments · newest first
JU
Justine
11 months ago
Totally agree with E! Can't believe they weren't doing this already.
DA
Dahlia
11 months ago
Wait, deleting non-active profiles? That sounds risky!
DE
Derick
11 months ago
E is the way to go! Regular updates are key for accurate assessments.
MA
Matthew
12 months ago
I think B makes sense too, but how often is "annually" enough?
BR
Brent
12 months ago
A is definitely a must! Keeping up with high-risk countries is crucial.
MY
Myrtie
12 months ago
I’m a bit confused about whether we should focus on internal updates or bringing in external help. I think A and D could both be valid, but I lean towards A for sure.
CA
Casey
1 year ago
I feel like we practiced a similar question where updating risk profiles was emphasized. A and E seem to fit that scenario well.
MA
Malcom
1 year ago
I'm not entirely sure about the best options here. I think E makes sense, but I also recall something about having an independent review, which might be D?
LO
Lottie
1 year ago
I remember we discussed the importance of regularly updating risk assessments in class. Option A seems like a solid choice since it aligns with compliance requirements.
KI
Kirk
1 year ago
Okay, I think I've got a handle on this. Regularly updating the lists of high- and medium-risk countries, as well as having the business update customer risk profiles periodically, seem like the two most appropriate remediation actions. I'll select those.
TH
Theodora
1 year ago
Hmm, I'm a bit unsure about this one. Updating risk profiles and having an audit manager review them annually both seem like reasonable approaches, but I'm not sure if those are the best options. I'll need to think this through carefully.
EL
Elfrieda
1 year ago
This seems like a straightforward question about remediation actions for an entity that doesn't update customer risk assessments. I'll need to carefully review the options and select the two that best address the issue.
MA
Mammie
2 years ago
A and E for sure. It's like my grandma always said, 'An up-to-date risk profile is worth two in the bush!'
RO
Roosevelt
2 years ago
Hmm, I'm not sure about D. Paying an independent third party to do all the work? Seems like a waste of money, the business should be able to handle that themselves.
ST
Stanford
2 years ago
C: Deleting non-active customer profiles can help reduce the workload of ongoing surveillance and focus resources on active customers.
GI
Gianna
2 years ago
B: Assigning an audit manager to review customer profiles annually can help ensure that the updates are done consistently and thoroughly.
TR
Trina
2 years ago
E: Periodic updates to customer risk profiles, based on their assigned risk level, are critical for maintaining an accurate and dynamic risk assessment system.
MA
Marvel
2 years ago
A: Regularly updating lists of high- and medium-risk countries ensures that customer risk profiles align with the most current geopolitical and economic risks.
IS
Isidra
2 years ago
Wait, what? I'm pretty sure your grandma never said that. But the point still stands - keep those profiles fresh!
EM
Emerson
2 years ago
E: Periodic updates to customer risk profiles, based on their assigned risk level, are critical for maintaining an accurate and dynamic risk assessment system.
FA
Fabiola
2 years ago
A: Regularly updating lists of high- and medium-risk countries ensures that customer risk profiles align with the most current geopolitical and economic risks.
ER
Erin
2 years ago
A and E seem like the most logical choices. Keeping those customer risk profiles up-to-date is crucial for any effective audit process.
SH
Sherman
2 years ago
E: Periodic updates to customer risk profiles, based on their assigned risk level, are critical for maintaining an accurate and dynamic risk assessment system.
AL
Aliza
2 years ago
A: Regularly updating lists of high- and medium-risk countries ensures that customer risk profiles align with the most current geopolitical and economic risks.
QU
Quentin
2 years ago
I also think periodic updates based on customer risk level are crucial for maintaining an accurate risk assessment system.
HU
Hubert
2 years ago
I agree with that. It's important to align customer risk profiles with current geopolitical and economic risks.
QU
Quentin
2 years ago
I think we should suggest compliance to regularly update the lists of high- and medium-risk countries.