Order Internal control systems Assignment 1 What according to Turnbull should a good system of internal control achieve? 2 Lack of flexibility is an important criticism of a rules-based approach to internal control. True False 3 What according to COSO are the key characteristics of enterprise risk management? 4 What are the key stages of the cybernetic control system? 5 Fill in the blank: …………………………………. […]

Discus Targeting and monitoring of risk (d) Identify, explain and evaluate the corporate governance and executive management roles in risk management (in particular the separation between responsibility for ensuring that adequate risk management systems are in place and the application of risk management systems and practices in the organisation) 3 (e) Identify and assess the importance of elements or components of internal control systems 3 […]

Order Risk attitudes and internal environment 1 Match the term to the definition. (a) Risk appetite (b) Risk capacity (c) Risk attitude (i) The nature and strength of risks that an organisation is able to bear (ii) The nature and strength of risks that an organisation is prepared to bear (iii) The directors’ views on the level of risk that they consider desirable 2 What […]

Discus Risk Management Techniques Assignment 1 Which of the following would not normally be classified as a strategic risk? A The risk that a new product will fail to find a large enough market B The risk of competitors moving their production to a different country and being able to cut costs and halve sale prices as a result C The risk that a senior […]

Order Largest predictable loss Assignment (a) Define and explain internal management control 2 (b) Explain and explore the importance of internal control and risk management in corporate governance 3 (e) Identify and assess the importance of elements or components of internal control systems 3 B2 Internal control, audit and compliance in corporate governance (e) Explore and evaluate the effectiveness of internal control systems 3 B3 […]

Risk Assessment and Response Assignment 1 Give five examples of factors that will determine the chances of a risk materialising and the consequences of it materialising. 2 What key indicators should risk quantification provide? 3 Complete the likelihood-consequences matrix in relation to methods of dealing with risk Consequences Low High Low Likelihood High 4 Fill in the blank: …………………………………. is taking an action that will […]

Discussion on Targeting and monitoring of risk (b) Explain and evaluate the role and purpose of the following committees in effective corporate governance: remuneration committee, nominations committee, risk committee, audit committee 3 B1 Management control systems in corporate governance (a) Define and explain internal management control 2 (d) Identify, explain and evaluate the corporate governance and executive management roles in risk management (in particular the […]

Discus Information communication and monitoring 1 Fill in the blank: …………………………………. ensures that internal control continues to operate effectively. This process involves assessment by appropriate personnel of the design and operation of control on a suitable timely basis, and the taking of necessary actions. It applies to all activities within an organisation and sometimes to outside contractors as well. 2 Complete the mnemonic in respect […]

Order Ethical Theories Assignment (a) Explain and distinguish between the ethical theories of relativism and absolutism 2 (b) Explain, in an accounting and governance context, Kohlberg’s stages of human moral development 3 (c) Describe and distinguish between deontological and teleological/consequentialist approaches to ethics 2 (d) Apply commonly-used ethical decision-making models in accounting and professional contexts: American Accounting Association model; Tucker’s 5 question model 2 E2 […]

Order Personal Ethics Assignment 1 Which view of ethics states that right and wrong are culturally determined? A Ethical relativism C Teleological B Cognitivism D Deontological 2 Fill in the blank: The …………………………………. approach to ethics is to make moral judgements about courses of action by reference to their outcomes or consequences. 3 In what areas of national and cultural beliefs has Hofstede identified significant […]