Which audit is conducted to assess the operating effectiveness related strictly to financial statements?

A financial audit is specifically designed to evaluate the accuracy and completeness of an organization's financial statements. It aims to provide assurance that the financial reports are free from material misstatement and comply with the relevant accounting standards. By doing so, the financial audit assesses not only the figures presented in the financial statements but also the effectiveness of internal controls over financial reporting, thereby directly addressing the operating effectiveness of financial processes.

In contrast, a risk management audit focuses on identifying and managing risks that could affect the achievement of organizational objectives but does not primarily emphasize financial statement reliability. A performance audit evaluates the efficiency and effectiveness of various operations within an organization, but its scope extends beyond just financial statements. Finally, a compliance audit assesses adherence to laws and regulations, which can include financial regulations, but this too is broader than the specific assessment of financial statements.

Thus, the financial audit is the most relevant in terms of evaluating the operating effectiveness associated strictly with financial reporting, making it the correct choice.