What is the role of RICA?

The choice of Risk and Internal Control Administrator as the correct answer reflects the broader responsibilities that this role encompasses within the framework of audit readiness. A Risk and Internal Control Administrator is primarily focused on overseeing the management and implementation of risk assessment and control measures within an organization. This involves identifying potential risks, assessing their impact, and ensuring that effective internal controls are in place to mitigate those risks.

This position is crucial for maintaining compliance with regulatory requirements and establishing processes that support the organization in achieving its objectives while minimizing potential hazards. The administrator works closely with various departments to ensure that risks are managed proactively, and internal controls are designed to safeguard assets, ensure the reliability of financial reporting, and promote operational efficiency.

Other options describe roles or actions that do not clearly align with the responsibilities outlined in audit readiness practices. Each of those roles may have significance in their respective contexts, but none encapsulate the comprehensive focus on risk management and internal controls as effectively as the role of the Risk and Internal Control Administrator.