Question: Using the COSO enterprise risk management framework, identify (i) the component and (ii) the specific factor / category / method within the component that address

Using the COSO enterprise risk management framework, identify (i) the component and (ii) the specific factor / category / method within the component that address or match each of the following situations below.

a. A company locks up a legal document that shows the ownership of its office property. (4 marks)

b. Use of profit & loss statement that compares a business units actual and budgeted performance. (4 marks)

c. Management sets the high-level goals that are aligned with the companys mission.

(4 marks)

d. To tackle the risk of loss, a company adopts control measures that are proved to be effective in lowering the risk from 5% to 2%. (4 marks)

e. A company has a document that shows different managers authorization limits in fixed asset purchases.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

ACC555 FINAL EXAM NAME _______________________________ 1. The 10,000 accounts receivable of DEF Company have a total book value of $120,000. A CPA has selected and audited a sample of 100 accounts...

Uploaded our Context Diagram, Was hoping someone could check for the validity of it according to the assignment. Bank Merc hand i Consignor se/ G oods Fees Cont racts Unso ld M ercha ndise / goo ds...

Attached is a case study and format that needs to be conducted. I'm looking for someone to set up the format and give the solution for each section. Just a few lines for each portion to get the case...

Part I There are two categories of internal control (automated or non-automated) relating to information systems. Identify the category of internal control for each of the following two scenarios: A...

Could I get the answers to the multiple choice section of this? Thanks! Chapter 11 Introduction to Internal Control Systems True-False Questions 1. Controls that specifically encourage operating...

ENTERPRISE RISK MANAGEMENT ENTERPRISE RISK MANAGEMENT (ERM) ERM forms an important element of organizational management and provisioning of consolidated services. The effective deployment of...

Which technique would be most precise in determining the variable cost component of manufacturing overhead costs? Delphi method High-low method Regression analysis Scatter-graph analysis Question 5...

Two random samples, one of 95 blue-collar workers and a second of 50 white-collar workers, were taken from a large company. These workers were asked about their views on a certain company issue. The...

Describe the Posner cuing paradigm. Be sure to describe the Different kind of trials, and what effect this would have on behavior. Describe two ways that the Posner cuing paradigm provides evidence...

High qPART A Which TWO of the following best identify the central ideas of this text The nature of truth Justice and fair trial Growing up Mental illness and its relationship to crime PART B Which...

. Ivanhoe has recently started to manufacture RecRobo, a three-wheeled robot that can scan a home for fires and gas leaks and then transmit this information to a mobile phone. The cost structure to...