Which of the following is the MOST important determining factor when establishing appropriate timeframes for follow-up activities related to audit findings?
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A. B. C. D.B.
When establishing appropriate timeframes for follow-up activities related to audit findings, the most important determining factor is typically the remediation dates included in management responses, as stated in option B. Here's why:
An audit typically involves identifying issues or deficiencies in an organization's systems, processes, or controls that could lead to risks or problems. Once these issues have been identified, the auditors would typically issue a report detailing the findings, and management would then respond to the report by providing a plan for addressing the issues.
The remediation dates included in management responses are the dates by which management has committed to completing the corrective actions necessary to address the issues identified in the audit. These dates are typically based on various factors, such as the urgency and severity of the issue, the availability of resources, and the complexity of the corrective actions needed.
When determining appropriate timeframes for follow-up activities related to audit findings, the auditors would typically use the remediation dates included in management responses as a guide. This is because these dates reflect management's commitment and prioritization of the corrective actions, and provide a clear timeline for when the issues should be resolved.
While the other factors listed in the answer choices - peak activity periods for the business, availability of IS audit resources, and complexity of business processes identified in the audit - may also be considered when establishing follow-up timeframes, they are typically secondary to the remediation dates included in management responses. For example, the availability of audit resources may impact the timing of the follow-up activities, but it is ultimately the remediation dates that dictate when the corrective actions should be completed. Similarly, while the complexity of business processes may impact the difficulty of the corrective actions, it is the remediation dates that provide the necessary urgency and accountability for ensuring that the issues are resolved in a timely manner.