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Consider the List of Risks and Internal Controls in the Table

question 6

Essay

Consider the list of risks and internal controls in the table below. For each row, indicate whether the internal control addresses the risk. If it does, indicate whether it is primarily preventive, detective or corrective in nature. Consider the list of risks and internal controls in the table below. For each row, indicate whether the internal control addresses the risk. If it does, indicate whether it is primarily preventive, detective or corrective in nature.


Definitions:

Commitment Savings

Financial products designed to help individuals save money by restricting access to funds until certain conditions are met or time has passed.

Behavioral Insights Team

A group or organization that applies psychological insights into human behavior to improve public policy, services, and outcomes.

Nudging

A concept in behavioral economics wherein indirect suggestions and positive reinforcements influence behaviors and decision-making.

Behavioral Economics

A subset of economics that analyzes how psychological, social, cognitive, and emotional factors influence economic decisions of individuals and institutions.

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