Determine techniques for assessing the effectiveness

Reference no: EM132495312

As leader of the internal audit team, you have agreed to:

A. Identify and list the key processes used by Pizza Inc. at their individual site locations.

B. Determine 10 business risks for the typical site location and assess the impact and likelihood of these risks.

C. Link the business processes to the business risks. Determine which are key versus secondary links. (Complete a risk by process matrix-exhibit 5-11.)

D. Select a key process (one you consider critical to the success of an individual site location) and create a detailed-level process map of the activities.

E. Identify the specific risks associated with the activities of the key process (that is, the process you selected for process mapping). (Complete the risk portion of a risk/control matrix-exhibit 5-14.)

F. Map the identified risks according to their inherent impact and likelihood of occurrence. (Complete a risk map-exhibit 5-15.)

G. Based on the case facts provided above, identify controls (actions management currently takes) to mitigate the identified risks and put them on the risk/control matrix (in the risk response column-exhibit 5-14.)

H. Determine techniques for assessing the effectiveness of the existing controls. (Complete the last column in the risk/control matrix-exhibit 5-14.)

I. Based on your observations and opinion of the potential effectiveness of the current risk response activities to address risks in the critical process you selected, create recommendations to mitigate the existing risks and improve performance.

Case 2

Select a company that has undergone an initial public offering within the last five years and obtain the prospectus (these are usually available on the com¬pany's website, EDGAR for companies listed on the U.S. stock exchanges, or other information services).

A. What is the business strategy and business model?

B. Identify the strategic objectives.

C. Identify the key risks.

D. Construct a matrix with the strategic objectives on the Y axis and the critical risks on the X axis. For each objective, indicate which key risk applies.

E. Discuss which risk you think the internal audit function should set as the highest priority.

Attachment:- A pizza take-out and delivery chain, is experiencing decreasing.rar

Reference no: EM132495312

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