Reference no: EM132167450
1. The organization’s board of directors have the final responsibility for risk management. What category best fits the risk(s) from controls, systems, or people?
A. Operational risk.
B. Strategic risk.
C. Residual risk.
D. Enterprise risk.
2. In a public traded company, what act requires both a company’s CEO and CFO to certify their financial statements are correct? They are also required to report operational risk to their stakeholders.
A. Dodd-Frank Act.
B. Sarbanes-Oxley Act.
C. US Financial Act.
D. Board Risk Insight Act.
3. The risk that best fits the type of risk(s) where a company’s board of directors must oversee in the society or economy is...
A. Strategic risks.
B. Financial risks.
C. Inherent risks.
D. Residual risks.
4. The primary role of the audit committee in an organization is to...
A. Make sure financial and compliance is achieved with regulations and legal requirements.
B. Evaluation of the company’s competency.
C. Find fault through examining facts and recommend change(s).
D. Hold the organization to a higher standard for performance.