Exiting a product line is an example of risk avoidance. This strategy involves eliminating a specific threat or risk entirely by discontinuing the activity that generates the risk. In this context, ceasing operations of a product line effectively removes all associated risks related to that line of business.
Risk management strategies and concepts

Internal auditors may provide consulting services relating to operations for which they had previous responsibilities, provided they do not currently have any operational responsibilities that would impair their objectivity. This scenario is possible under IIA guidelines as long as any potential conflicts of interest are managed, and auditors maintain their independence regarding the areas they are auditing.
IIA ' s International Standards for the Professional Practice of Internal Auditing, specifically standards on objectivity and independence in consulting roles.

The most helpful metric to measure the success of an internal audit activity in providing risk-based assurance is the percentage of highly significant risks covered by the internal audit plan. This demonstrates that the internal audit function is focusing its resources on the most critical areas that could impact the organization's objectives, ensuring that significant risks are being addressed and managed appropriately. This alignment with the organization's risk profile is a key indicator of effective risk-based auditing. References: The IIA's International Standards for the Professional Practice of Internal Auditing (Standards), specifically Standard
2010 - Planning, and Standard 2120 - Risk Management.

In analyzing the situation where a key account manager failed to register a large number of contracts, a competent internal auditor should evaluate whether attributes such as intent and personal gain were present.
This involves assessing whether the individual ' s actions were deliberate and motivated by personal benefits.
Understanding these attributes is crucial for determining the root cause of the issue and identifying potential fraud or misconduct. It also helps in making recommendations to prevent future occurrences.
IIA Practice Guide: Fraud and Internal Audit
IIA Standard 1210.A2: Proficiency - Internal auditors must have sufficient knowledge to evaluate the risk of fraud and the manner in which it is managed by the organization

When an internal auditor wants to compare her organization's governance processes to those of a well-known governance model, performing a gap analysis is the most effective approach. A gap analysis involves comparing the current state (the organization's existing governance processes) with the desired state (the well- known governance model). This analysis identifies the gaps or differences between the two, which can then be addressed to improve the organization's governance practices. It helps in pinpointing specific areas where the organization's practices fall short and need enhancement.
The IIA Standards: Standard 2130 - Governance: "The internal audit activity must assess and make appropriate recommendations to improve the organization's governance processes." IIA Practice Guide: "Assessing Organizational Governance in the Public Sector": Discusses the use of gap analysis to evaluate governance frameworks.