Exam 12: The Risk Intelligent Enterprise: Enterprise Risk Management

Risk management shifts an enterprise from a pro active approach of anticipating and mitigating future risks before incidents occur to a reactive approach.

The ________ is also impacted by human resource policies, including hiring practices.

________ risks have the possibility of benefits associated with it.

The company where you work is considering requiring a contents tab to every spreadsheet as part of spreadsheet risk management. You are asked to make recommendations regarding the contents of the contents tab. What type of information would you recommend?

Spreadsheets introduce significant risks into the financial reporting process for organizations.

What is the main limitation in the ERM framework? Why is it a limitation?

What percentage of CFOs provide advice on enterprise risk management?

In ERM risk assessment, ________ may refer to assessing likelihood using qualitative measures, such as high, medium, or low.

In an IT compliance road map, what type of deficiencies may be found and how are they prioritized?

In ERM risk assessment, possibility may refer to assessing likelihood using a quantitative measure, such as percentages.

Enterprise risk management (ERM)goes beyond just security and controls.

Which of the following is both an internal and external factor that might affect an enterprise's ability to achieve objectives?

Which of the 7Rs of risk management listed below pertains to risk assessment?

The ________ component involves identifying potential events that might affect the entity.

Match the IT control activity to the appropriate enterprise level. -Application controls

Match the word to the appropriate sentence to complete the risk response definition. -Sharing

The ________ log documents the date of the update, user making the updates, the type of updates (for example, formulas), update specifications, and what initiated the update.

Hiring competent employees who are provided ongoing training

Operation objectives relate to

The ________ relates to the culture of the organization and its risk consciousness.