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IIA Internal Audit Function IIA-CIA-Part3 Question # 123 Topic 13 Discussion

IIA Internal Audit Function IIA-CIA-Part3 Question # 123 Topic 13 Discussion

IIA-CIA-Part3 Exam Topic 13 Question 123 Discussion:
Question #: 123
Topic #: 13

During an internal audit engagement, it was found that several vendors were on a government sanctions list and must no longer be traded with. Which of the following would most effectively mitigate the risk of noncompliance with sanctions lists that are updated regularly?


A.

Agreements with sanctioned vendors discovered by internal audit will be placed on hold until further notice from the government


B.

A new procedure of vendor onboarding will be implemented to ensure that all new vendors undergo screenings against the sanctions list


C.

Controls will be embedded in the vendor management processes to ensure that new and existing vendors are compliant with changes to the sanctions list


D.

The legal team will be asked to prepare counter arguments to dispute audit findings and potential inquiries from the governmental authority


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