Chapter 1 ERM Flashcards
1
Q
Business Objectives
A
specific
measurable
obtainable
relevant
2
Q
Entity risk management should be led by
A
centralized coordinator
ultimate responsibility is the CEO
manager device and execute
3
Q
coso a risk profile is a view of the relationship between
A
risk and performance
4
Q
inherent risk
A
no action from management
5
Q
the benefit of ERM
A
Increase opportunity
identify and manage risk entity-wide,
increase positive outcomes
reducing negative surprises,
reduce performance variability,
improve resource deployment, and
enhance enterprise resilience.
6
Q
Risk Appetite
A
How much risk the firm is will to take
7
Q
difference between strategy and business objective
A
business objective are the steps to achieve strategy
