BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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COSO research (2014) identifies which three elements in addition to ‘Business Planning’ to make up the contextual business model? 1. Execution. 2. Strategy. 3. Monitoring. 4. Control. 5. Adapting.
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2, 3 and 4
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1, 3 and 4
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1, 3 and 5
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none of above
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Explanation:
Detailed explanation-1: -The COSO framework divides internal control objectives into three categories: operations, reporting and compliance.
Detailed explanation-2: -The COSO framework objectives are divided into three distinct disciplines: operations, reporting, and compliance.
Detailed explanation-3: -The five components of COSO – control environment, risk assessment, information and communication, monitoring activities, and existing control activities – are often referred to by the acronym C.R.I.M.E.
Detailed explanation-4: -The framework emphasizes entity wide risk management across four objectives: strategic, operations, reporting, and compliance.
There is 1 question to complete.