15. Bakas Ng Pulang Hotdog Sa Muka Co., a large agricultural firm, produces crops that rely on honeybees for cross-pollination to increase and enhance production. An unknown, uncontrolled disease has killed large numbers of bees (diminishing crops) and is now moving toward the firm's fields. What is the best response to this? Acceptance/ Tolerance Sharing/ Transfer Treatment/ Reduction Avoidance/ Termination 17. Mr. Nauna Pang Mag Break Kesa Matapos Tong Quarantine, an internal auditor, assigned to an assurance engagement of risks management processes should understand and appreciate the technical language (concepts, principles, and terms) of risk management processes. An auditor may also need to consider broader natural barriers to effective risk management. Which of the following is a natural barrier? a. Reluctance by the CEO to share negative information b. ERM Framework that is not applicable for a particular entity c. An outdated risk register d. An inadequate event identification approach 19. Which of the following is not a key activity that internal audit can engage in facilitating risk identification and evaluation with a management group? a. Asking the group to spontaneously come up with any risks that may exist b. Gathering data from other industry groups or from leading metrics c. Distributing a set of questions in advance to draw input from the group anonymously d. Creating a risk checklist and distributing it to the group members for ranking

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Related questions

Question

15. Bakas Ng Pulang Hotdog Sa Muka Co., a large agricultural firm, produces crops that rely on honeybees for cross-pollination to increase and enhance production. An unknown, uncontrolled disease has killed large numbers of bees (diminishing crops) and is now moving toward the firm's fields. What is the best response to this?

Acceptance/ Tolerance

Sharing/ Transfer

Treatment/ Reduction

Avoidance/ Termination

17. Mr. Nauna Pang Mag Break Kesa Matapos Tong Quarantine, an internal auditor, assigned to an assurance engagement of risks management processes should understand and appreciate the technical language (concepts, principles, and terms) of risk management processes. An auditor may also need to consider broader natural barriers to effective risk management. Which of the following is a natural barrier?

a. Reluctance by the CEO to share negative information

b. ERM Framework that is not applicable for a particular entity

c. An outdated risk register

d. An inadequate event identification approach

19. Which of the following is not a key activity that internal audit can engage in facilitating risk identification and evaluation with a management group?

a. Asking the group to spontaneously come up with any risks that may exist

b. Gathering data from other industry groups or from leading metrics

c. Distributing a set of questions in advance to draw input from the group anonymously

d. Creating a risk checklist and distributing it to the group members for ranking

Expert Solution