Match the ERM Component Name to the Appropriate Definition

question 98

Multiple Choice

Match the ERM component name to the appropriate definition.
-Internal Environment

• A)This is comprised of policies and procedures established and implemented to ensure risk responses are effective.
• B)This involves identifying occurrences that affect an enterprise's ability to attain its objectives.
• C)This involves ensuring relevant data is captured and communicated effectively throughout the organization to appropriate individuals in a timely manner.
• D)This involves watched evaluation and feedback that permits modifications as needed.
• E)This ensures that the enterprise has a process for setting goals that are consistent with the entity's mission and risk appetite.
• F)This involves the risk management philosophy of the enterprise, including the tone set by top management.

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Definitions:

Land

A natural resource that encompasses the earth's surface, excluding water bodies, and can include the resources above and beneath the surface area.

Tort Law

The area of law that deals with civil wrongs and damages to a person’s body, property, reputation, or rights, not involving a contract.

Punish Wrongdoers

The act of imposing a penalty on individuals or entities that have violated laws or regulations.

Damages

Compensation claimed by or ordered to be paid to a person for loss or injury.