Chpt 2 Risk Management Flashcards
1
Q
Risk management strategy 7 steps
A
- Establish risk man group & goals
- Identify risk areas
- Understand and assess scale of risk
- Develop risk response strategy
- Implement the strategy and allocate responsibilities
- Implement and monitor suggested controls
- Review and refine
2
Q
Enterprise risk management 8 components
A
- internal environment
- objective setting
- event identification
- risk assessment
- risk response
- control activities
- information and communication
- monitoring
3
Q
ERM objectives 4
A
Strategy
Operations
Financial reporting
Compliance
