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Questions and Answers
What is the coordination of activities with the objective to identify, assess and respond to risk referred to as?
What is the coordination of activities with the objective to identify, assess and respond to risk referred to as?
Which area involves the act of adhering to mandated requirements defined by laws and regulations?
Which area involves the act of adhering to mandated requirements defined by laws and regulations?
What is generally referred to as governance, risk management and compliance (GRC) at the highest level?
What is generally referred to as governance, risk management and compliance (GRC) at the highest level?
What requires the development and implementation of internal controls to manage and mitigate risk throughout the organization?
What requires the development and implementation of internal controls to manage and mitigate risk throughout the organization?
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What is the main responsibility of governance within the realm of IT?
What is the main responsibility of governance within the realm of IT?
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Who is typically responsible for governance in most enterprises?
Who is typically responsible for governance in most enterprises?
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What is the main responsibility of management in most enterprises?
What is the main responsibility of management in most enterprises?
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What varies in terms of proper governance according to the text?
What varies in terms of proper governance according to the text?
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What is the responsibility of the CEO in most enterprises?
What is the responsibility of the CEO in most enterprises?
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Why is it stated that no two businesses or groups are the same in terms of governance structure?
Why is it stated that no two businesses or groups are the same in terms of governance structure?
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Study Notes
Risk Management and Governance
- The coordination of activities to identify, assess, and respond to risk is referred to as Risk Management.
- The area that involves adhering to mandated requirements defined by laws and regulations is referred to as Compliance.
- Governance, Risk Management, and Compliance (GRC) refers to the integrated approach at the highest level.
- Internal Control involves the development and implementation of internal controls to manage and mitigate risk throughout the organization.
Governance and Management
- The main responsibility of Governance within the realm of IT is to provide strategic direction and oversight.
- In most enterprises, the Board of Directors or the CEO is typically responsible for Governance.
- The main responsibility of Management in most enterprises is to implement and execute the strategies set by Governance.
Governance Structure
- The governance structure varies from one organization to another in terms of proper governance.
- The CEO is responsible for implementing Governance in most enterprises.
- No two businesses or groups are the same in terms of governance structure, implying that each organization has its unique governance structure.
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Description
Test your knowledge of governance, risk management, and compliance within the realm of IT. This quiz covers topics such as stakeholder needs evaluation, enterprise objective setting, performance monitoring, and compliance in enterprises.
