Question

Who will provide input regarding new or emerging key risk areas that should be covered by the organization's governance process?

Select one:
a. The board of directors.
b. Senior management.
c. Risk owners.
d. The internal audit function.
e. A, C and D

Answer 1

The board of directors, risk owners, and the internal audit function provide input regarding new or emerging key risk areas for the organization's governance process.

Step-by-step explanation:

The organization's governance process involves various stakeholders who provide input regarding new or emerging key risk areas. These stakeholders include:

1. The board of directors: The board of directors, elected by the shareholders, plays a crucial role in providing oversight and governance for the organization. They have the responsibility to identify and address key risk areas.
2. Risk owners: Risk owners, who are individuals or departments within the organization, are responsible for identifying and managing specific risks. They provide valuable input on new or emerging risk areas.
3. The internal audit function: The internal audit function is responsible for evaluating and assessing the effectiveness of the organization's governance processes. They provide insights and recommendations on key risk areas that should be covered.

Therefore, the correct answer is option e. A, C, and D.