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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Marva

1 months ago

If the shareholders were in charge of risk management, we'd all be in a world of trouble. They'd probably invest in a company that makes whoopee cushions or something.

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Carman

1 months ago

Shareholders? Really? They're too busy counting their money to worry about risk management. Good one!

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Ramonita

2 months 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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Bettina

1 months ago

Yeah, it's definitely a team effort to manage risks effectively.

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Gertude

1 months ago

I agree, everyone in the entity should be responsible for risk management.

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Gearldine

2 months ago

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

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Janna

2 months 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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Ryan

2 months 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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Rosina

24 days ago

Actually, under the COSO framework, it's not just limited to managers and directors.

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Becky

1 months ago

C) Managers and directors only.

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Georgene

2 months ago

Exactly, it's important for everyone to be involved in managing risks.

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Edmond

2 months ago

A) Every member of the entity.

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Rex

2 months ago

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

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Gearldine

3 months ago

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

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