B1 Flashcards
1
Q
how can management reduce inherent risk?
A
by taking action to reduce risk. If management does nothing that is inherent risk. Residual risk is left over after management has taken action
2
Q
Define organizational sustainability
A
ability an entity can withstand the impact of large scale events
3
Q
which component of COSO supports risk appetite?
A
strategy & objective setting
4
Q
what is related to a company’s mission and vision?
A
strategy
5
Q
who sets the risk appetite in an organization?
A
Management
6
Q
what is a detective control over standing data?
A
reconciling changes to data because it reviews change
