Discuss what trends can be found in auditing, risk management, and ensuring quality assurance.

https://na.theiia.org/standards-guidance/Public%20Documents/RIMS%20and%20The%20IIA%20Executive%20Report%20Forging%20a%20Collaborative%20Alliance.pdf

We have established that risk must be planned for, qualified and quantified, and that a response to all risks must be established. It is important that once these risks have been identified and planned for, they also stay on the radar of the business owner. Monitoring and controlling risks throughout the project ensures that the risks are constantly tracked and assessed for changes and potential for occurrence. Conducting risk assessments and audits are tools that help the business owner track all project risks. It is the job of the business owner to predict and project risk. They do this by looking into the past (previous projects) and analyzing the present (current projects) to better determine potential risk in the future.
Read the “Executive Report: Risk Management and Internal Audit—Forging A Collaborative Alliance
(Links to an external site.)
” by RIMS. Specifically, observe Figure 2, the risk fan (The Role of Internal Audit in Enterprise-wide Risk Management (ERM)) on p. 4.
Write a 2-3 page paper discussing your findings from the report. Ensure that the following points are addressed.
Discuss what trends can be found in auditing, risk management, and ensuring quality assurance.
Discuss the role of the internal audit in Enterprise-wide Risk Management and the role that managers play in collaboration with QA and auditors to ensure effective risk management.
Provide alternate examples outside the report of where the Internal Audit in ERM can be viewed in a real-world business scenario.
Provide at least two academic resources.

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