Banking · Risk-Based Internal Audit

What is the primary focus of Risk-Based Internal Audit (RBIA) in banks?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1To concentrate solely on testing individual transactions
2To assess the performance of bank employees
3To evaluate the adequacy and effectiveness of risk management and internal control systems✓
4To focus only on financial audits and compliance

Correct answer

To evaluate the adequacy and effectiveness of risk management and internal control systems

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