CIA Exam Part 1 - Chapter 3: Corporate
Social Responsibility Questions with Correct
Answers
What does Senior Management determine with respect to risk? Correct Answ_1. WHERE
specific risks are to be managed
2. WHO will be RISK OWNERS
3. HOW specific risks will be managed
**Senior management establishes REPORTING requirements for RISK OWNERS
What two things is the internal audit activity responsible for with respect to governance?
Correct Answ_1. ASSESSING governance
2. IMPROVING governance
What are risk owners responsible for? Correct Answ_1. Evaluating the adequacy of the
design of risk management activities and the organization's ability to carry them out as designed
2. Determining whether risk management activities are operating as designed
,3. Establishing monitoring activities
4. Ensuring that information to be reported to senior management and the board is accurate,
timely, and available
According to the COSO Enterprise Risk Management framework, culture consists of: Correct
Answ_1. Attitudes
2. Behaviors
3. Understanding about risk (both positive and negative)
Organizational culture is reflected in Correct Answ_1. Setting values, objectives and
strategies
2. Defining roles and behaviors
3. Measuring performance
4. Specifying accountability
5. Complying with corporate social responsibilities
, What is Senior Management responsible for in regards to an organizational culture? Correct
Answ_1. ESTABLISHING
2. MAINTAINING
What are codes of conduct and vision statements issued to state? Correct Answ_1. The
organization's values and objectives
2. The behavior expected
3. The strategies for maintaining a culture consistent with legal, ethical, and social
responsibilities
Who oversees the organizations ethical climate? Correct Answ_BOARD
Who has ultimate responsibility for promoting and setting the example of ethical behavior?
Correct Answ_Senior Management
**Also responsible for ESTABLISHING and MAINTAINING a sound ethics-related objectives
program
Social Responsibility Questions with Correct
Answers
What does Senior Management determine with respect to risk? Correct Answ_1. WHERE
specific risks are to be managed
2. WHO will be RISK OWNERS
3. HOW specific risks will be managed
**Senior management establishes REPORTING requirements for RISK OWNERS
What two things is the internal audit activity responsible for with respect to governance?
Correct Answ_1. ASSESSING governance
2. IMPROVING governance
What are risk owners responsible for? Correct Answ_1. Evaluating the adequacy of the
design of risk management activities and the organization's ability to carry them out as designed
2. Determining whether risk management activities are operating as designed
,3. Establishing monitoring activities
4. Ensuring that information to be reported to senior management and the board is accurate,
timely, and available
According to the COSO Enterprise Risk Management framework, culture consists of: Correct
Answ_1. Attitudes
2. Behaviors
3. Understanding about risk (both positive and negative)
Organizational culture is reflected in Correct Answ_1. Setting values, objectives and
strategies
2. Defining roles and behaviors
3. Measuring performance
4. Specifying accountability
5. Complying with corporate social responsibilities
, What is Senior Management responsible for in regards to an organizational culture? Correct
Answ_1. ESTABLISHING
2. MAINTAINING
What are codes of conduct and vision statements issued to state? Correct Answ_1. The
organization's values and objectives
2. The behavior expected
3. The strategies for maintaining a culture consistent with legal, ethical, and social
responsibilities
Who oversees the organizations ethical climate? Correct Answ_BOARD
Who has ultimate responsibility for promoting and setting the example of ethical behavior?
Correct Answ_Senior Management
**Also responsible for ESTABLISHING and MAINTAINING a sound ethics-related objectives
program
