Chapter 11 Flashcards
1
Q
Describe Board of Director Responsibilities
A
Strategic
operational
Finance
Ensuring Risk Management Process is in all level
Identifying and quantifying the risk with organization
defining the risk apetite
2
Q
Internal Audit
A
Assess the organizational compliance with legal and regulatory requirement
compliance with existing standard
assessing the policy adherence
3
Q
Risk Commitee
A
Works to create new policy
4
Q
Purpose of Internal Controls
A
Operating
Reporting
Compliance
5
Q
Risk Management
A
Design and Implement the Risk Management Plan including the choice of Appropriate tools
establish management
Monitor the risk level
