Which of the following is a commonly used tool in the internal audit process?

In the internal audit process, risk matrices are commonly used because they provide a visual representation of risks associated with various activities, helping auditors prioritize their focus areas. These matrices allow auditors to categorize risks based on their likelihood of occurrence and impact, leading to better risk management and ensuring that the most significant risks are addressed first.

While flowcharts, decision trees, and statistical software like SPSS can also play a role in auditing processes, they serve different purposes. Flowcharts are primarily used to illustrate processes and workflows, making it easier to understand the steps taken in a procedure. Decision trees are helpful in decision-making scenarios, outlining various possible outcomes based on different choices. SPSS software is mainly utilized for data analysis and statistical purposes, rather than directly as a tool in the internal audit process. Thus, risk matrices stand out as an essential tool for internal auditors to assess and manage risks effectively.