RIMS - CRMP Complete Study Guide
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Terms in this set (345)
The effect of uncertainty on objectives
The chance of something happening that will have an
Risks impact on objectives
Being prepared for the worst and being poised to
exploit opportunities as they are discovered
A strategic business discipline that supports the
achievement of an organization's objectives by
Enterprise Risk
addressing the full spectrum of its risks and managing
Management
the combined impact of those risks as an interrelated
risk portfolio.
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, 27/12/2024, 18:03 RIMS - CRMP Complete Study Guide 400questions & answers 2025 ( A+ GRADED 100% VERIFIED) Flashcards | Quizlet
Risk identification, assessment and creation of
Support Function:
emergency response and recovery plans related to
Business continuity and
threats or hazards that might lead to operational
crisis management
disruptions
A systematic examination and evaluation of data or
information by breaking it into its component parts to
uncover their relationships. An examination of data
Analysis
and facts to uncover and understand cause-effect
relationships, thus providing basis for problem solving
and decision making.
To embed risk The type of decision being made; Who should be
management in both included in the decision making process; Where in the
routine and strategic process decisions are being made
decision, what should
managers be able to
recognize?
Meeting or exceeding an organization's objectives
Risk management Adhering to control-based objectives, rules and/or
strategies' general focus controls
Complying with regulatory requirements
Risk identification, assessment and treatment through
audit plans with focus on fraud, corruption, regulatory
noncompliance and/or misrepresentation related to
Support Function: Internal
the organization's internal control systems, financial
Audit
operations, financial statements and reporting as well
as enterprise risk and the organization's risk
management framework and process.
What steps can the risk Include risk assessment in planning process; Leverage
management professional cross-functional risk assessment team and subject
take to embed risk matter experts to identify enterprise risks; Consider
management in decision cascading and cumulative effects
making?
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