Question

Fill in the blank

1. Strategic risk assessment is designed to identify, analyze, and manage possible threats to the organization's success concerning ____________________ forces such as competitors, customers, suppliers, and PEST factors.

2. Business process risk assessment is designed to identify, analyze, and manage possible threats to the organization's success concerning ____________________ forces such as resource allocations.

3. An internal control activity that separates responsibilities so that no one person handles all the tasks for a particular activity is referred to as ____________________.

Answer 1

1.Strategic risk assessment is designed to identify, analyze, and manage possible threats to the organization's success concerning External forces such as competitors, customers, suppliers, and PEST factors.

2. Business process risk assessment is designed to identify, analyze, and manage possible threats to the organization's success concerning Internal forces such as resource allocations.

3. An internal control activity that separates responsibilities so that no one person handles all the tasks for a particular activity is referred to as segregation of duties