A quantitative risk assessment model has all of the following advantages except:
A) Accommodating a large number of risk factors in the assessment.
B) Providing documentation for the chief audit executive, who must defend the long-range audit plan.
C) Providing a systematic method of applying weightings to risks and priorities.
D) Removing the need for judgment on the part of the chief audit executive.

Question

Quizplus · Accepted Answer

Quantitative risk assessment models still require judgment from the chief audit executive to interpret results and make informed decisions, so they do not remove the need for judgment.

A Quantitative Risk Assessment Model Has All of the Following