Enterprise Risk Management

How does ERM support value creation
Enable mgmt to deal effectively with future events that create uncertainty and respond in a manner that reduces the likelihood of downside outcomes and increases the upside
ERM requires an entity to take a what kind of view of risk?
Portfolio
What 2 perspectives develop the portfolio view?
1. Business unit level
2. Entity Level
ERM responsibility holders
Board of Directors
Risk Officers
Internal Auditors
Management
Primary responsibility for ERM is for internal audit (True/False)
False
What does internal audit do in ERM
1. Monitor
2. Examine
3. Evaluate
4. Report
4 Responses to risk?
Accept
Avoid
Reduce
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