A robust ERM framework, at a minimum, will include some type of process where management takes the steps necessary to

Multiple Choice

identify risks.

All of these answer choices are correct.

estimate their significance and likelihood.

consider how to manage the risks.

2. The COSO framework is utilized as a benchmark to assess the internal control effectiveness by whom?

Multiple Choice

Management and Analysts

Auditors and Analysts

Analysts and Creditors

Management and Auditors

3. Transaction-level controls pertain to

Multiple Choice

unique merger and acquisition transactions.

broad disclosures and implications.

specific classes of transactions, account balances, and disclosures.

broad classes of transactions, account balances, and disclosures.