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CIMAPRO19-P03-1 Exam - Topic 2 Question 67 Discussion

Actual exam question for CIMA's CIMAPRO19-P03-1 exam
Question #: 67
Topic #: 2
[All CIMAPRO19-P03-1 Questions]

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

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Suggested Answer: C, D

by Lura at May 13, 2024, 03:26 PM

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Lorean
4 months ago
I can't believe shareholders have no role in this!
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Lonny
5 months ago
Nope, it's definitely not just for managers and directors.
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Katie
5 months ago
Wait, really? I thought it was just the board's job.
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Larae
5 months ago
Totally agree, risk management is a team effort.
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Gail
5 months ago
Every member is responsible, that's how it works!
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Hubert
6 months ago
I’m confused because I thought it was mainly the managers and directors, but now I’m questioning if it’s really everyone involved. Maybe C?
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Lamar
6 months ago
I practiced a question similar to this, and I think it emphasized that everyone in the organization plays a part. So, A seems likely.
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Margart
6 months ago
I feel like we discussed how the board has a key role, but I can't recall if it's just them or if it's broader. Could it be B?
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Emeline
6 months ago
I think I remember that risk management is a collective responsibility, so maybe it's A? But I'm not entirely sure.
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Emile
6 months ago
I'm a little confused on this question. I know the COSO framework is about enterprise risk management, but I can't recall the details on who is responsible. I'll have to review my notes before answering.
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Silva
6 months ago
The COSO framework emphasizes a collaborative approach to risk management, so I believe the correct answer is that every member of the entity is responsible. I'll select option A.
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Catrice
6 months ago
Hmm, I'm a bit unsure about this one. I know the COSO framework covers enterprise-wide risk management, but I can't remember the specifics on who is responsible. I'll have to think this through carefully.
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Eulah
6 months ago
I'm pretty sure the COSO framework says that risk management is the responsibility of everyone in the organization, not just the board or managers. I'll go with option A.
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Salome
6 months ago
I think the divisional structure would be the best fit here. Differentiation at the business level usually requires more flexibility and autonomy, which a divisional structure can provide.
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Franchesca
6 months ago
I've got a strategy for this. I'll focus on finding the right Activity element in XML Document 2 based on the Code attribute, then update its Status element accordingly. Gotta be careful with the namespace-aware parsing.
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Cyril
6 months ago
I'm pretty sure this is a change in accounting estimate. The company is updating its estimate of future warranty costs based on a production improvement, which doesn't seem to be a change in principle or a correction of an error. I'll select option B.
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Kenneth
6 months ago
I vaguely remember a similar question where an off-by-one error caused issues. I wonder if that's happening here too.
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Stevie
11 months ago
Hey, if the shareholders were in charge of risk management, I'd be rich by now! Guess they're not as competent as we thought. Option A all the way.
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Noemi
11 months ago
Shareholders responsible for risk management? What is this, a comedy show? They're just there to make money, not to run the company. Definitely going with Option A.
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Dylan
11 months ago
Only managers and directors? Sounds like a recipe for disaster. Everyone in the entity should be involved in risk management, from the CEO to the janitor. Option A is the way to go.
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Corinne
10 months ago
Shareholders should also be involved in understanding and managing risks.
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Desmond
10 months ago
Managers and directors should definitely play a key role in risk management.
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Joseph
10 months ago
I think the board of directors should have the ultimate responsibility for risk management.
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Pamela
10 months ago
I agree, everyone in the entity should be responsible for risk management.
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Dominque
11 months ago
I think the board of directors should be responsible for risk management. They're the ones calling the shots, so they should be the ones managing the risks too. Option B for me.
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Rolande
10 months ago
Managers and directors should also play a role in risk management. It shouldn't just be left to one group to handle all the risks.
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Phung
10 months ago
I think every member of the entity should be responsible for risk management. It's important for everyone to be aware of and involved in managing risks.
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France
10 months ago
I agree, the board of directors should definitely be responsible for risk management. They have the overall authority.
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An
11 months ago
Well, the COSO ERM Framework clearly states that risk management is the responsibility of everyone in the organization, not just the board or managers. Option A seems like the right choice here.
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Lore
10 months ago
That's correct, the COSO ERM Framework emphasizes the importance of a collective effort in risk management.
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Brendan
10 months ago
Yes, it's important for all members of the entity to be involved in managing risks.
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Michal
10 months ago
I agree, risk management should be everyone's responsibility.
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Chun
1 year ago
But don't you think managers and directors should also be responsible for risk management?
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Marylyn
1 year ago
I disagree, I believe it's the board of directors only.
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Chun
1 year ago
I think every member of the entity is responsible for risk management.
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