Strategic Risk: Can it be audited and by whom?

Strategic risk and strategic risk management (SRM) are hot topics in management these days. The idea of auditing strategic risk was recently proposed in an article by Corporate Executive Board.  Two questions relating to SRM:

1. Can strategic risk be ‘audited’? and
2. If yes, then by whom?

My thoughts are written here but I am interested in other viewpoints so please share.
http://www.edbarrows.com/Resources/newsletter/072010.htm