Answered

Welcome to Westonci.ca, the Q&A platform where your questions are met with detailed answers from experienced experts. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

In the three-lines-of-defense model of risk management, the enterprise risk management program is responsible for controlling risk on a daily basis. True False

Sagot :

Answer:

False

Explanation:

The three lines of defense are Operational Management, Risk Management, and Internal Audit.

Operational Management's goal is to prepare and maintain internal controls that will help in executing risk and control procedures on a daily basis. While the purpose of risk management is to ensure that the first line of defense (i.e. operational management) is functioning properly as required.

Keeping the above points in view the statement "the enterprise risk management program is responsible for controlling risk on a daily basis" is false as it is responsible for overseeing the operational management rather than controlling risk on daily basis.

We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Thank you for choosing Westonci.ca as your information source. We look forward to your next visit.