Podcast
Questions and Answers
External risks arise from the ______, economic factors, acts of regulatory bodies, and other outside sources.
External risks arise from the ______, economic factors, acts of regulatory bodies, and other outside sources.
competitive environment
Assign an ______ or Owners to match every important risk with a functional area, business unit, or key initiative.
Assign an ______ or Owners to match every important risk with a functional area, business unit, or key initiative.
Owner
Assess the ______ of each risk by evaluating the expected frequency and levels of damage severity.
Assess the ______ of each risk by evaluating the expected frequency and levels of damage severity.
Impact
Support risk assessments with both ______ analysis and qualitative considerations.
Support risk assessments with both ______ analysis and qualitative considerations.
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Evaluate ______ options, including retaining, avoiding, reducing, or transferring the risk.
Evaluate ______ options, including retaining, avoiding, reducing, or transferring the risk.
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Monitor the ______ of the implemented mitigation option and revise as needed.
Monitor the ______ of the implemented mitigation option and revise as needed.
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Risk managers identified ______, assessed them, chose strategies to cover their impacts, and implemented a risk management program.
Risk managers identified ______, assessed them, chose strategies to cover their impacts, and implemented a risk management program.
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Risk managers ______ exposures, assessed them, chose strategies to cover their impacts, and implemented a risk management program.
Risk managers ______ exposures, assessed them, chose strategies to cover their impacts, and implemented a risk management program.
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The process set up both ______ and crisis risk management.
The process set up both ______ and crisis risk management.
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Internal auditors pursue ______ that internal controls are working.
Internal auditors pursue ______ that internal controls are working.
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This seeks to ensure ______ with official requirements imposed by statutes, public agencies, or the courts.
This seeks to ensure ______ with official requirements imposed by statutes, public agencies, or the courts.
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Traditional risk management identified four sources of ______ risk.
Traditional risk management identified four sources of ______ risk.
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Enterprise risk is the likelihood that actual results will not match expected ______.
Enterprise risk is the likelihood that actual results will not match expected ______.
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Risk has two characteristics, one of which is ______ of expected results from operations or decisions.
Risk has two characteristics, one of which is ______ of expected results from operations or decisions.
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When an enterprise engages in its activities, it accepts ______ and considers both positive and negative possibilities.
When an enterprise engages in its activities, it accepts ______ and considers both positive and negative possibilities.
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A ______ loss would hurt an operating unit but not be noticeable on financial statements.
A ______ loss would hurt an operating unit but not be noticeable on financial statements.
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A ______ loss can cause a reduction of current year revenues or earnings that has a substantial impact on operations.
A ______ loss can cause a reduction of current year revenues or earnings that has a substantial impact on operations.
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A catastrophic loss seriously hampers a firm's ability to do ______.
A catastrophic loss seriously hampers a firm's ability to do ______.
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