Master Enterprise Risk Management
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Questions and Answers

Which of the following best describes enterprise risk management (ERM) in business?

  • A framework for managing risks and seizing opportunities in organizations (correct)
  • A risk-based approach to managing an enterprise
  • A process for assessing the likelihood and magnitude of risks
  • A strategy for proactively addressing risks and opportunities
  • What does ERM typically involve?

  • Creating value for stakeholders, including owners, employees, and customers
  • Integrating concepts of internal control, the Sarbanes–Oxley Act, data protection, and strategic planning
  • Identifying events or circumstances relevant to objectives, assessing them, determining a response strategy, and monitoring the process (correct)
  • Addressing the needs of various stakeholders
  • How does ERM help business enterprises?

  • By protecting and creating value for stakeholders (correct)
  • By addressing the needs of various stakeholders
  • By assessing the likelihood and magnitude of risks
  • By integrating concepts of internal control and strategic planning
  • What does ERM integrate in its risk-based approach?

    <p>Concepts of internal control, the Sarbanes–Oxley Act, data protection, and strategic planning</p> Signup and view all the answers

    How is ERM evolving to meet stakeholder needs?

    <p>By addressing the broad spectrum of risks and opportunities</p> Signup and view all the answers

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