أسئلة حول الحوكمة وإدارة المخاطر

What is the difference between reasonable assurance and limited assurance?

• Reasonable assurances are provided by the board as part of governance activities, while limited assurance results from self-assessments by the employee.

• Reasonable assurance is provided by external auditors as part of financial audit assurance and refers to compliance with appropriate standards and freedom from material misstatement, while limited assurance results from reviews and compilations, and other activities performed by competent employees who have sufficient subject matter knowledge.

• Reasonable assurances are provided by management as part of strategic planning, while limited assurance results from operational reviews and performance assessments.

• Reasonable assurance is provided by internal auditors as part of risk assessment, while limited assurance results from external audits and regulatory examinations.

What is the difference between mission and vision?

• The mission is what a for-profit organization must have, while the vision is for non-profit organizations.

• The mission is determined by external stakeholders, while the vision is defined by internal stakeholders.

• The mission defines the organization's goal and direction, while the vision is an ambitious goal that defines what the organization aspires to be.

• The mission is a short-term financial goal, while the vision is a long-term non-financial goal.

What are proactive measures and controls?

• Steps or specific process actions that will allow the organization to identify misconduct as soon as it occurs.

• Steps or specific process actions that will reduce the likelihood of undesirable events, activities, or behaviors occurring.

• Technology controls that detect opportunities for misconduct or negative events and prevent them from occurring.

• Technology and processes that help the organization correct any discovered misconduct before negative impact occurs.

What is the governance/risk management/compliance training plan?

• A plan that outlines the order and timing of all training courses for a specific role or set of roles, which may include a description of each course and its objectives and method of delivery.

• A plan that identifies the names of all training programs offered by the organization to the workforce.

• A plan that describes what the organization intends to provide in terms of governance/risk management/compliance training for approval by the board.

• A table of contents for the organization's training course on governance/risk management/compliance capabilities.

How do organizational values contribute to acting with integrity?

• Organizational values contribute to acting with integrity by allowing the organization to bypass some legal and regulatory requirements.

• Organizational values contribute to acting with integrity by increasing the organization's market share and profitability, which satisfies shareholders to whom promises have been made.

• Organizational values contribute to acting with integrity by...

How can integrity be perceived as a ratio?

• It can be perceived as the ratio of regulations applicable to enforcement actions against the company.

• It can be perceived as the ratio of total revenues to total expenses.

• It can be perceived as the ratio of promises fulfilled divided by promises made, aiming for a ratio close to 1 or 100%.

• It can be perceived as the ratio of successful projects to failed projects.

What is the Integrated Action and Control Model (IACM) designed to provide?

• It is designed to provide a financial model to maximize profits while addressing risk and compliance considerations.

• It is designed to provide a way to determine whether to outsource responsibility for some or all governance, management, and assurance activities.

• The model provides a comprehensive framework for considering the full range of processes and controls used in governance, management, assurance of performance, risk, and compliance.

• It is designed to provide a framework to eliminate all risks and achieve full compliance.

When are additional governance procedures and controls considered necessary in the Joint Advisory Committee for Oversight and Control?

• Not necessary at all, as administrative procedures and controls are sufficiently available through the Joint Advisory Committee between agencies.

• When administrative procedures and controls do not provide sufficient information or guidance to constrain the organization.

• When the organization is experiencing rapid growth and expansion.

• Only when a mandate is issued by external regulatory authorities.

Which of the following statements is not correct?

• The focus should be on the committee's ability to achieve its objectives while aligning with decision-making standards.

• The required focus may vary at different times and for different purposes.

• Assurance efforts are more effective when a risk-based approach is used.

• Assurance must be provided by individuals who have a deeper understanding of the processes and controls.

How can a code of conduct serve as a guiding framework for organizations of all sizes and in all industries?

• It is a starting point for policies and procedures in large organizations or those in highly regulated industries, while in smaller, less regulated organizations it is the only guidance needed.

• It only applies to large organizations in certain industries.

• It defines the principles, values, standards, or codes of conduct that guide the organization's decisions, actions, and systems.