Select from the option list provided to indicate the most likely party for each responsibility listed below. Assume that each party is present in the organization. Each choice may be used once, more than once, or not at all.

Responsibility

Party

$1.$ Has day$-$to$-$day responsibility for enterprise risk management.

$2.$ Reviews and challenges decisions related to risk appetite.

$3.$ Evaluates the effectiveness, and recommends improvements, of enterprise risk management processes.

$4.$ Provides oversight of enterprise risk management.

$5.$ Has first$-$line $($core business$)$ accountability for risks taken to achieve strategy.

$6.$ Coordinates risk management activities.

$7.$ Has third$-$line accountability for enterprise risk management.