BUISENESS MANAGEMENT
RISK MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Risk Management will provide a framework to assure that operational activities are consistently conducted under control
|
|
|
Improve organizational learning
|
|
|
Improve the process effectiveness of decision making, planning and prioritizing business or project activity
|
|
|
Improve auditing process
|
Detailed explanation-1: -The internal audit function can play a leading role in improving an organization’s data security and related areas of risk management. Much as internal audit teams provide assurance in other areas like financial risk and compliance risk, they can do so with IT or cybersecurity risk.
Detailed explanation-2: -Detailed Solution. The incorrect statement is The auditor should not obtain knowledge about the client’s business to determine the nature, timing and the extent of the audit procedures.
Detailed explanation-3: -Risk Management and Audit The system is also designed to ensure compliance with relevant laws and regulations. The Company’s risk management and internal control system is designed to determine risks in relation to the achievement of business objectives and appropriate risk responses.
Detailed explanation-4: -Risk elimination is not a type of risk management strategies.