Question 1:

Internal controls perform three (3) important functions. They are i) Preventive Control, ii) Detective Control and Corrective Control. Please create ANYscenario (ONE ONLY) that is INCLUSIVEof all these controls.

Example of a scenario- During MCO, you are not at home for 3 months. As a preventive control, you lock your house, set up a CCTV and put an alarm on. You regularly view your CCTV from your laptop to check whether your house has been broken into or not. Also if the alarm goes off, then you can detect any break into your house (detective control). If that happened, then a police report will be lodged (corrective control). Other corrective control also can be implemented such as ..... put a lock that is harder to break, inform police station near you period you're not home, ask for a neighbor to report any suspicious activities etc etc.

Question 2:

By referring to ERM Model, please briefly discuss ERM Control Framework for the scenario below:

"You, as a UPSI student plan to get married next sem"

You will identify event or threat will be faced by your own self, estimate the probability/likelihood of each threat occurring, estimate the impact /potential loss, identify control for each threat, and estimate the cost and benefit, then make a decision.

Your answer may vary from each other (depending on what sem you're in, whether you're a male/female student, family situation etc).