BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Economic event.
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Natural environment event.
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Political event.
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Social event.
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Detailed explanation-1: -C is the best answer. While any or all of those events may impact a defense contractor’s success, a change in government or political agendas is most likely to have a significant impact.
Detailed explanation-2: -Which of the following is the best reason for the CAE to consider the organization’s strategic plan in developing the annual internal audit plan? A-To ensure that the internal audit plan supports the overall business objectives.
Detailed explanation-3: -Answer (B) is correct. Assuming management’s responsibility for the risk management process is a potential threat to the internal audit activity’s independence.
Detailed explanation-4: -These factors are (1). Commitment and support from top management, (2) Communication, (3) Culture, (4) Information technology (IT), (5) Organization structure, (6) Training and (7) Trust. Because risk management is an important part of the financial industry, effectiveness is vital to increase project success.
Detailed explanation-5: -Strategic risk examples Changes in senior management and leadership. The introduction of new products or services. Mergers and acquisitions which prove unsuccessful. Market or industry changes, such as a shift in the needs or expectations of customers.