Certification In Risk Management Assurance (CRMA)

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An organization has set a zero risk appetite for regulatory compliance violations. Internal audit discovers a minor, unintentional breach. What is the MOST appropriate internal audit response?

Treat it as immaterial since it was unintentional and no harm resulted. Report it consistent with the zero-tolerance stance, regardless of materiality or intent. Escalate only if the breach resulted in a regulatory fine. Wait to see if regulators identify the breach before reporting.

Correct Answer:

Report it consistent with the zero-tolerance stance, regardless of materiality or intent.

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