COMM335 Practice Questions

3marks f

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Unformatted text preview: s] b) What is the ABC Methodology? [3 marks] c) Identify any THREE of the six types of design feasibility (ABC Methodology) and briefly explain (not more than two sentences) what each aims to achieve. [4 marks] Chapter 12. Answer the following question: This question has THREE parts. d) What is the Risk Intelligence? Tell me what it is and provide an explanation through a simple example. [3 marks] e) How are risk management and controls related? Briefly explain the relationship through the “three rings” depicted in your textbook. [3 marks] f) Of the eight ERM (Enterprise Risk Management) components, one of them is Risk Assessment. What are the two aspects of Risk Assessment? Please explain each aspect using a simple example. [4 marks] Chapter 10. Answer the following question: This question has THREE parts. g) What is the COSO Internal Control – Integrated Framework? Tell me what is its purpose and objectives. [3 marks] h) What are the five essential components of an effective internal control system? [3 marks] i) Of the five essential components above… briefly (but clearly and adequately) explain any TWO of the five components. [4 marks] Section 3. 2 questions directly related to your second assign...
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