Rr4 your organizations response to analyzed risks

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RR4 Your organization‟s response to analyzed risks includes prioritizing risk treatments where there are resource constraints on risk treatment implementation. Control Activities CA1* The organization‟s risk management procedures include policies and processes which help to ensure that risk responses are appropriately carried out. CA2 In your organization control activities are executed to ensure risk responses are in a timely manner. CA3 The level of existing control activities by your organization are sufficient and appropriate for the risks that it faces. CA4* Many different types of control activities are performed by your organization at various organizational level and entities. Information and Communication IC1* In the organization relevant information is identified, captured and communicated in a form and time frame that enable people to carry out their responsibilities. IC2* The information infrastructure is consistent with an entity‟s need to identify, assess, and respond to risk and remained within its risk tolerance. IC3 Formal procedures are in place for reporting risks. IC4 Changes to risks are assessed and reported on an ongoing basis. IC5* In your organization, there is appropriate communication with people outside of the organization. (e.g. customers, suppliers, shareholders). Monitoring MO1* In your organization some combination of ongoing monitoring and separate evaluations will ensure that ERM maintains its effectiveness over time. MO2 Monitoring the effectiveness of risk management is an integral part of routine management reporting.
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ACCEPTED MANUSCRIPT ACCEPTED MANUSCRIPT MO3 Your organization has highly effective continuous review/feedback on risk management strategies and performance. MO4 Your organization regularly reviews internal controls INFORMATION TECHNOLOGY IT Strategy ITG1 Using an external information network to identify your requirements in information technology. ITG2 Knowing the information technology used by your competition. ITG3 Instituting a technology watch in order to change rapidly your information technology when necessary. ITG4 Ensuring that your choice of information technology follows the evolution of your environment. ITG5 Using the information technologies that will permit a rapid reaction to environmental pressure. ITG6 Use of IT to reduce your production costs. ITG7 Use of IT to make substantial savings. ITG8 Use of IT to improve your firm‟s productivity. ITG9 Use of IT to increase your firm‟s profitability. ITG10 Use of IT to improve the quality of products or services. ITG11 Use of IT to respect the deadlines requested by your customers. IT Structure ITC1 Mastering current information technology products. ITC2 Maintaining control over projects involved with the acquisition of new technology.
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