Discuss CIMA CIMAPRA19-P03-1 Exam Topic 6 Question 23

HGY is a major global corporation that has decided to implement the COSO Enterprise Risk Management Framework and integrate management practices throughout the organisation

Which THREE of the following would be appropriate for HGY?

AAuthorise managers and supervisors to respond immediately to any risks that emerge

BMake risk management an element of everyone's responsibility

CRecruit a Director of Risk, who will lead risk management procedures.

DTrain staff at all levels to identify and report risks to their superiors

ECreate a risk management team that will take responsibility for identifying and mitigating risk

FIdentify risk as an element of HGY's overall strategy.

Suggested Answer: B, E, F

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11 comments · newest first

Rodolfo 12 months ago

E seems too narrow, risk should be everyone's job, not just a team!

Franklyn 12 months ago

D is a must! Training is essential for spotting risks.

Lenna 1 year ago

Wait, can a single Director really handle all that?

Laurel 1 year ago

A sounds good too, quick responses are key!

Nan 1 year ago

Definitely B! Everyone should be responsible for risk management.

Natalie 1 year ago

I feel like integrating risk into the overall strategy is essential, so option F seems like a must-have. But I'm not sure about the others; they all have their merits too.

Roxanne 1 year ago

Training staff to identify and report risks sounds familiar from our practice questions. I think option D is a solid choice because it empowers employees at all levels.

Margot 1 year ago

I'm a bit unsure about whether recruiting a Director of Risk is necessary. It seems like it could help, but I wonder if it might create a bottleneck in decision-making.

Krystal 1 year ago

I remember discussing how making risk management everyone's responsibility is crucial for a strong culture of risk awareness. So, I think option B is definitely one of the right choices.

Cherelle 1 year ago

This question seems straightforward, but I want to make sure I understand the details. The key is to focus on the "Manage Applications" window and what the user prioritized there.

Stevie 1 year ago

I'm a bit confused by the wording of the options. Can someone help me understand the difference between "prorate all periods except first and last" and "prorate first and last period"? I want to make sure I select the right choices.

CIMAPRA19-P03-1 Exam - Topic 6 Question 23 Discussion