A multinational organization is developing a risk awareness program to promote a unified risk culture across all regions. Which of the following will BEST enable the achievement of this objective?
A.
Applying risk policies in a consistent manner across regions
B.
Introducing the same control framework across regions
C.
Centralizing the risk management function
D.
Identifying jurisdictions of cross-border trading processes
Having to agree with A here. Everything I have ever been taught in audit is to look first to see if policies are applied consistently, or if they are created in a distributed manner.
Applying risk policies in a consistent manner across regions is likely to be the BEST approach to achieve this objective.
Applying risk policies in a consistent manner across regions helps to ensure that all employees understand and follow the same risk management practices and procedures. This approach can help to promote a shared understanding of risk management principles and practices, and can help to minimize the potential for confusion or misunderstanding that can arise when different regions or business units use different approaches to managing risk.
Centralizing the risk management function can also be an effective strategy for promoting a unified risk culture, as it can help to ensure that all employees have access to consistent risk management tools, resources, and expertise. However, this approach may be more challenging to implement in a multinational organization, as it may be difficult to establish a single risk management function that can effectively serve the needs of all regions and business units.
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CbtL
8 months, 2 weeks agoCbtL
8 months, 2 weeks agojohn_boogieman
10 months, 3 weeks ago