The COSO Enterprise Risk Management Integrated Framework Stresses That

question 48

Multiple Choice

The COSO Enterprise Risk Management Integrated Framework stresses that

• A)risk management activities are an inherent part of all business operations and should be considered during strategy setting.
• B)effective risk management is comprised of just three interrelated components;internal environment,risk assessment,and control activities.
• C)risk management is the sole responsibility of top management.
• D)risk management policies,if enforced,guarantee achievement of corporate objectives.

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Definitions:

Financial Responsibility

Refers to the obligation to manage resources, including money, assets, and debts, in an effective and efficient manner.

Debit Card

A payment card that deducts money directly from a consumer’s checking account to pay for a purchase.

Traveler's Check

A preprinted, fixed-amount check designed to allow the person signing it to exchange it for cash in a foreign currency while traveling.

Conference Expenses

Costs associated with attending or hosting a professional gathering, including travel, accommodation, and registration fees.