CIMA Exam CIMAPRA19-P03-1 Topic 5 Question 17 Discussion

Actual exam question for CIMA's CIMAPRA19-P03-1 exam

Question #: 17
Topic #: 5

[All CIMAPRA19-P03-1 Questions]

Under the COSO Enterprise Risk Management Framework, who is responsible for risk management?

AEvery member of the entity.

BThe board of directors only.

CManagers and directors only.

DThe shareholders.

Show Suggested Answer

Suggested Answer: A, B, D

by Rima at Oct 14, 2022, 08:52 PM

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4 days ago

Managers and directors? That's way too narrow. Risk management is like a team sport - everyone's gotta be involved!

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5 days ago

But the COSO framework emphasizes that all members should be involved in managing risks to achieve objectives.

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6 days ago

The board of directors should be the ones in charge. They're the ones with the big fancy titles, after all.

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10 days ago

Well, it's clearly the responsibility of every member of the entity according to the COSO framework. Anything less would be a recipe for disaster!

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11 days ago

I disagree, I believe it's the board of directors only who are responsible.

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17 days ago

I think every member of the entity is responsible for risk management.

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