Homework Answers
Answer-1:
Organizational Governance is a set of policies, procedures and structures which is used by an organization to achieve its goals and objectives along with the protection of the interest of stakeholders following the ethics.
Hence correct answer is: d
Organizational Governance is a process by which organization selects objectives, establish processes to achieve objectives and monitor performance.
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Urganizational governance is: O a. Tactical management O b. Day to day management of the organization...
6. The control environment includes all of the following COSO Principles of Internal Control, EXCEPT A...
6. The control environment includes all of the following COSO Principles of Internal Control, EXCEPT A : the organization demonstrates a commitment to integrity and ethical values. B : the organization identifies risks to the achievement of its objectives across the entity and analyzes risk as a basis for determining how the risks should be managed. C : the organization holds individuals accountable for their internal control responsibilities in the pursuit of objectives. D : the board of directors demonstrates...
2. 15 pts. We have discussed in length the COSO model for an effective system of...
2. 15 pts. We have discussed in length the COSO model for an effective system of Internal Control including its 5 components: (CE) Control Environment; (RA) Risk Assessment; (CA) Control Activities; (I&C) Information & Communication; & (M) Monitoring. To test your understanding of these, in the block immediately preceding each individual statement below, identify the COSO component each statement best applies to. Hint: There are 5-CE's; 4-RA's; 3-CA's; 3-IC's; & 2-M's. The organization specifies objectives with sufficient clarity to enable...
In governance, what are the key responsibilities of: a. The board of directors? b. Senior management?...
In governance, what are the key responsibilities of: a. The board of directors? b. Senior management? c. Risk owners?
BE4-1 Match each of the following provisions of the Sarbanes-Oxley Act (SOX) with its description. Major...
BE4-1 Match each of the following provisions of the Sarbanes-Oxley Act (SOX) with its description. Major Provisions of the Sarbanes-Oxley Act a. Executives must personally c 1. Oversight board 2. Corporate executive accountability b. Audit firm cannot provide a c. PCAOB establishes standard 3. Auditor rotation 4. Nonaudit services 5. Internal control d. Lead audit partners are requi e. Management must document
Corporate governance is the Not yet answered Select one: Points out of O Flag question A....
Corporate governance is the Not yet answered Select one: Points out of O Flag question A. relationship and exercise of oversight by the board of directors of the company O B. relationship between the chief financial officer and institutional investors O C. operation of a company by the chief executive officer (CEO) and other senior executives on the management team. O D. oversight of employees by a corporation's executives.
Every year, the board of directors of Northern Power, a distributor of electricity, commissions an effectiveness...
Every year, the board of directors of Northern Power, a distributor of electricity, commissions an effectiveness evaluation of its audit committee. An independent consultant with expertise in governance reviews the means by which the audit committee fulfills its responsibilities, as set out in its charter. Specifically, it evaluates how the members of the audit committee: Oversee the quality and reliability of financial reporting and disclosures Understand the key risks facing the organization and the processes management uses to identify, assess,...
What is the role of a Board of Directors in corporate management, and from where do...
What is the role of a Board of Directors in corporate management, and from where do directors obtain their power to make these decisions? O a. To make sure that bond holders receive no money and that stock holders receive all of the money in a corporation. The Board of directors is inherently corrupt and any bank that lends to a company that has a board of directors will lose money. O b. The Board of Directors (BOD) is made...
Project Manager should be changes as 7. An organisation operates with separate and independent risk management,...
Project Manager should be changes as 7. An organisation operates with separate and independent risk management, compliance and audit functions. The organisation's board of directors should be aware that Page 15 Answer: All costs will be reduced and more risks will be eliminated. Holistic risk management processes will be more effective across the organisation c) This is likely to create a more robust approach to managing risk. - d) Work will often be duplicated and costs will usually be increased....
The main reason for greater efficiency and wealth creating power stems from the shareholders' rolls as:...
The main reason for greater efficiency and wealth creating power stems from the shareholders' rolls as: a)residual risk bearers b)potential scapegoats c)residual tranche payees d)potential debt collectors QUESTION 5 Shareholders provide a critical resource needed by business organizations, namely capital. a)True b)False QUESTION 6 Employees, customers, suppliers, shareholders, and stockholders are all considered: a)cooperatives b)directors c)stakeholders d)auditors QUESTION 7 Management decision making is a ____________ form of protection than legally enforceable contracts or legal rules. a)stronger b)weaker QUESTION 8 Corporate...
B. Risk strategy C. Respanses to individual risks D. Risk categories. 192. The Perform Qualitative Risk Analysis process assesses the priority of identified risks using all af the following EXCEPT A....
B. Risk strategy C. Respanses to individual risks D. Risk categories. 192. The Perform Qualitative Risk Analysis process assesses the priority of identified risks using all af the following EXCEPT A. B. C. Relative probability or likelihoad of occurrence of identified risks. Impact an praject abjectives if the identified risks accur A mathematical technique, such as the expected monetary value (EMV), to create the impression of precision and accuracy. The organization's risk tolerance assaciated with the praject constraints of cast,...
2. 15 pts. We have discussed in length the COSO model for an effective system of Internal Control including its 5 components: (CE) Control Environment; (RA) Risk Assessment; (CA) Control Activities; (I&C) Information & Communication; & (M) Monitoring. To test your understanding of these, in the block immediately preceding each individual statement below, identify the COSO component each statement best applies to. Hint: There are 5-CE's; 4-RA's; 3-CA's; 3-IC's; & 2-M's. The organization specifies objectives with sufficient clarity to enable...
BE4-1 Match each of the following provisions of the Sarbanes-Oxley Act (SOX) with its description. Major Provisions of the Sarbanes-Oxley Act a. Executives must personally c 1. Oversight board 2. Corporate executive accountability b. Audit firm cannot provide a c. PCAOB establishes standard 3. Auditor rotation 4. Nonaudit services 5. Internal control d. Lead audit partners are requi e. Management must document
Corporate governance is the Not yet answered Select one: Points out of O Flag question A. relationship and exercise of oversight by the board of directors of the company O B. relationship between the chief financial officer and institutional investors O C. operation of a company by the chief executive officer (CEO) and other senior executives on the management team. O D. oversight of employees by a corporation's executives.
What is the role of a Board of Directors in corporate management, and from where do directors obtain their power to make these decisions? O a. To make sure that bond holders receive no money and that stock holders receive all of the money in a corporation. The Board of directors is inherently corrupt and any bank that lends to a company that has a board of directors will lose money. O b. The Board of Directors (BOD) is made...
Project Manager should be changes as 7. An organisation operates with separate and independent risk management, compliance and audit functions. The organisation's board of directors should be aware that Page 15 Answer: All costs will be reduced and more risks will be eliminated. Holistic risk management processes will be more effective across the organisation c) This is likely to create a more robust approach to managing risk. - d) Work will often be duplicated and costs will usually be increased....
B. Risk strategy C. Respanses to individual risks D. Risk categories. 192. The Perform Qualitative Risk Analysis process assesses the priority of identified risks using all af the following EXCEPT A. B. C. Relative probability or likelihoad of occurrence of identified risks. Impact an praject abjectives if the identified risks accur A mathematical technique, such as the expected monetary value (EMV), to create the impression of precision and accuracy. The organization's risk tolerance assaciated with the praject constraints of cast,...
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