Business Ethics and Risk Management Quiz

Questions and Answers

What percentage of the 2019 CIA Exam Syllabus is covered by 'Governance, Risk Management, and Control'?

35%

Which of the following is not included in the course materials?

Module 2: Conceptual Framework of Corporate Governance

Module 10: Advanced Financial Accounting (correct)

Module 3: SEC Code of Corporate Governance

Module 1: Internal Auditing

Governance, risk management, and internal control only apply to public organizations.

False

Name one of the course objectives students are expected to achieve.

<p>Demonstrate knowledge of corporate governance, risk management, and internal control.</p> Signup and view all the answers

Governance provides overall direction for ______ activities.

<p>risk management</p> Signup and view all the answers

Study Notes

Course Overview

Focuses on governance, business ethics, risk management, and internal control for BSA and BSMA students.
Aims to prepare students to enhance organizational value and improve governance and risk management.

Examination Relevance

Covers SEC Code of Corporate Governance within business transaction regulations.
Includes the audit process, stressing understanding the entity's environment and internal controls.
Pertains to 35% of the 2019 CIA Exam Syllabus, specifically essentials of internal auditing and associated frameworks.

Course Objectives

Achieve knowledge of professional accounting standards and demonstrate proficiency.
Understand corporate governance, risk management, and internal control principles.
Apply IT and management skills relevant to internal auditing.
Utilize risk evaluation and internal control assessment techniques.
Conduct audit engagements with minimal supervision while adhering to standards.

Course Modules

Module 1: Internal Auditing
Module 2: Corporate Governance Conceptual Framework
Module 3: SEC Code of Corporate Governance
Module 4: Business Ethics and Corporate Social Responsibility
Module 5: Risk Fundamentals and Risk Management Process
Module 6: Enterprise Risk Management
Module 7: Basics of Internal Control
Module 8: Evaluating Internal Control Design and Effectiveness
Module 9: Fraud Risk

Key References

International Standards for the Professional Practice of Internal Auditing by the IIA.
Philippine Framework for Assurance Engagements.
SEC Code of Corporate Governance and G20/OECD Principles.
Revised Corporation Code and Sustainability Reporting Guidelines.
COSO’s Enterprise Risk Management framework and ISO 31000:2018.

Relationship of Governance, Risk Management, and Control

Governance directs risk management efforts, ensuring that objectives are set and met.
Effective governance integrates risk management and internal controls for organizational effectiveness.

Description

Test your knowledge on governance, business ethics, risk management, and internal control with this informative quiz. Designed for students at the Polytechnic University of the Philippines, this quiz assesses key concepts and practical applications in the field of accountancy and finance.