RSK2601 EXAM PACK WITH ANSWERS 2021 - $3.49   Add to cart

Looking for more study guides & notes to pass ? Find more study material on our overview page 

Exam (elaborations)

RSK2601 EXAM PACK WITH ANSWERS 2021

ENTERPRISE RISK MANAGEMENT SECTION B:ESSAY QUESTIONS ANSWER ALL QUESTIONS IN THE SPACES PROVIDED QUESTION1-INTRODUCTION TO ENTERPRISE RISK MANAGEMENT(14MARKS) Mrs Jacobs has just been appointed as the new CEO of CALL 4U Ltd.She approaches you as the risk manager to gain a better understanding of the implementation of enterprise risk management(ERM)within the company Compile a report addressed to Mrs Jacobs in which you explain the elements of an ERM structure i) Corporate governance(board oversight) -Corporate governance refers to a framework of rules and practices by which a board of directors ensures Accountability ,fairness and transparency in a companys relationship with all its stakeholders(financiers,customers,management,employees,government and the community. -The corporate governance framework consists of the following: .Explicit and implicit contracts between the companys and the stakeholders for the distribution of responsibilities,rights and rewards .Procedures for reconciling the conflicting interests of stake holders in accordance with their duties,priviledges and roles .Procedures for proper supervision ,control and information flows to serve as a system of checks and balances ii) Internal controls -It refers to the process that is effected by a companys board of directors,management and other personnel,designed to provide reasonable assurance regarding the achievement of objectives in the following categories: -Reliability of financial reporting -Compliance with applicable laws and regulations -Effectiveness and efficiency of operations 4

Preview 4 out of 31  pages

avatar-seller
Quizzguru

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 450,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

$ 3.49  1x  sold
  • (0)
  Add to cart