Part 2 ID Flashcards
1
Q
What are the most commonly used variety of methods for capturing risk? (5)
A
Self assessment Reviews and audits Focus workshops Historical loss data Management info statistics and kris
2
Q
What kinds of questions should be asked In relation to risk appetite?
A
Consistent with company’s policy and philosophy?
Impact on operations?
Management capable and sufficiently competent to manage ?
How will impact effect cash flow and bau?
3
Q
The self certification method can be regarded as…
A
An extension of the risk identification process
Once a list of risk has been compiled, managers make their own assessment of exposure to each risk on a regular basis
