PAN - A 7. mo PART B Concrete Limited established a risk management unit (RMU) and appointed a chief risk officer (CRO) to lead the unit The CRO was given six months to ensure that the department was adequately staffed, to negotiate and establish a mandate and operational objectives for the department, and to operationalise the unit A junior auditor has been assigned to assist you in conducting the first performance audit of the RMU. Discussions with the CRO have indicated that he has difficulty appointing suitably skilled staff owing to budget constraints placed on him by the human resources department. The staff shortage is hampering his efforts to facilitate risk management process in all the departments. The CRO's biggest concern is that major and emerging risks might not be identified and reported on in time DELL w c T. . C 3 X D C F n Y H N U J M K O . M " 1 REQUIRED 2.6 W S 4 10 of 12 Based on information provided in part B, develop a complete audit finding based on the information obtained from the CRO, in which you mention and practically illustrate the different elements of an audit finding. You should construct your own recommendation WOLOD DELL A S H K D C FF V G N J M 345 > 4 AU137 May/June 20 Mar (8) " PAN - A 7. mo PART B Concrete Limited established a risk management unit (RMU) and appointed a chief risk officer (CRO) to lead the unit The CRO was given six months to ensure that the department was adequately staffed, to negotiate and establish a mandate and operational objectives for the department, and to operationalise the unit A junior auditor has been assigned to assist you in conducting the first performance audit of the RMU. Discussions with the CRO have indicated that he has difficulty appointing suitably skilled staff owing to budget constraints placed on him by the human resources department. The staff shortage is hampering his efforts to facilitate risk management process in all the departments. The CRO's biggest concern is that major and emerging risks might not be identified and reported on in time DELL w c T. . C 3 X D C F n Y H N U J M K O . M " 1 REQUIRED 2.6 W S 4 10 of 12 Based on information provided in part B, develop a complete audit finding based on the information obtained from the CRO, in which you mention and practically illustrate the different elements of an audit finding. You should construct your own recommendation WOLOD DELL A S H K D C FF V G N J M 345 > 4 AU137 May/June 20 Mar (8)