IIA CRMA Practice Questions - Certification In Risk Management Assurance (CRMA) Exam

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An audit committee is reviewing the company's risk appetite statement. Which characteristic is MOST important for the statement to be useful in governance?

It is approved annually by external auditors It is expressed exclusively in quantitative dollar limits It is approved by the board and aligned with strategy and objectives It is identical to the risk appetite of industry peers

Correct Answer:

It is approved by the board and aligned with strategy and objectives

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