30 Questions
Which of the following is a key component of an effective internal control system?
Management oversight and control culture
What is the function of an internal audit in a company?
All of the above
What does it mean to strengthen the internal control system and risk management systems?
To implement internal control and risk management
What is the relationship between governance, risk management, and internal control?
They are connected to one another
What is the purpose of an independent internal audit function?
To provide independent and objective assurance
What are the key duties in respecting the rights of stakeholders?
Effective redress for violation of stakeholder's rights
According to the text, what is the purpose of having an Investor Relations Program?
To communicate with shareholders
What is the main recommendation regarding the fair treatment and protection of stakeholders?
To adopt a transparent framework and process
According to the text, what are some stakeholder engagement touch points in the company?
Investor Relations Office
What is the main recommendation regarding employee participation?
To develop a mechanism for employee participation
According to the text, what are some activities shown in an anti-corruption policy?
All of the above
What is the main recommendation regarding sustainability and social responsibility?
To be socially responsible in all dealings
According to the text, what is the responsibility of the Board in promoting shareholder rights?
To create a policy that informs the shareholders of all their rights and the processes on how to exercise them
According to the text, what are shareholders' rights related to?
All of the above
According to the text, what is the purpose of voting in the Annual or Special Shareholders' meeting?
To hear what the shareholders think and how many of them feel the same way
According to the text, what should the Board make available to resolve intra-corporate disputes?
Alternative dispute mechanism
According to the text, what should the Board establish to ensure constant engagement with shareholders?
Investor Relations Office (IRO)
According to the text, when should the Notice of Annual and Special Shareholders' Meeting be sent?
28 days before the meeting
According to the text, what does sustainable development mean for a company?
Considering economic, environmental, and social and governance issues
What is the recommendation for a company regarding its relationship with society?
Recognize the interdependence between business and society
According to the text, what is the purpose of a company's interactions?
To serve its environment and stakeholders in a positive and progressive manner
Which one of these companies is mentioned as an example of considering the planet Earth?
New Belgium Brewing Company
According to the text, what does sustainable development not mean for the fashion industry?
Marketing sustainable clothing
What should a company's value chain process consider according to the text?
Economic, environmental, and social and governance issues
Which function is responsible for identifying and analyzing key risks exposure relating to economic environmental, social and governance (EESG) factors and the achievement of the organization’s strategic objectives?
Chief Risk Officer
What is the function of the Chief Risk Officer?
Supervises the entire ERM process and spearheads the development, implantation, maintenance, and continuous improvement of ERM processes and documentation.
What is the role of the Board Risk Oversight Committee?
Oversees the organization's Enterprise Risk Management system to ensure its functionality and effectiveness.
What is the function of the Chief Internal Auditor/Chief Audit Executive?
Performs regular and special audit as contained in the annual audit plan and/or based on the company’s risk assessment.
What is the role of the Enterprise Risk Management framework?
To identify and analyze key risks exposure relating to economic environmental, social and governance (EESG) factors and the achievement of the organization’s strategic objectives.
What is the function of the Risk Management function?
Identifying and analyzing key risks exposure relating to economic environmental, social and governance (EESG) factors and the achievement of the organization’s strategic objectives.
Test your knowledge on risk management strategies and processes with this quiz. Learn about the role of the Board Risk Oversight Committee and how they collaborate with the CEO. Explore the importance of ERM policies and gain insights on risk management performance.
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