Effective risk management provides absolute assurance that the business objectives of an organization will be achieved....

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Question

Effective risk management provides absolute assurance that the business objectives of an organization will be achieved....

Effective risk management provides absolute assurance that the business objectives of an organization will be achieved.

( ) Agree

( ) Disagree, give reason:

business accounting

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Answer 1

Answer #1

Disagree.

Effective risk management cannot provided absolute assurance, the following are the reasons;

1. Effectiveness of ERM is subject to the limitations of the ability of humans to make risk assessment and its impact.

2. Collusion can dilute the effectiveness of ERM.

3.ERM can be overridden by management.

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Answer 2

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