- 20 Marks
CSME – May 2019 – L2 – Q2 – Risk Management and Corporate Strategy
Discuss the elements of a risk management system, Board committee functions in risk management, and six categories of business risks from the Turnbull Report.
Question
The Code of Corporate Governance in Nigeria states that “the Board of Directors may establish a Risk Management Committee to review the adequacy and effectiveness of risk management and controls at least annually and the Board has responsibility to report on the effectiveness of the controls to shareholders.”
a) In line with the requirements above, discuss the elements of a risk management system. (8 Marks)
b)
(i) Advise an executive director on the functions of the Board Committee in relation to enterprise risk management. (6 Marks)
(ii) Extract from the Turnbull Report, the six (6) categories of risk common to business. (6 Marks)
Find Related Questions by Tags, levels, etc.
- Tags: Board Committees, Enterprise Risk Management, Risk Management, Turnbull Report
- Level: Level 2
- Topic: Risk Management and Corporate Strategy
- Series: MAY 2019
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