WorksheetsRisk and Controls
Total questions: 8
Worksheet time: 3mins
Whom did Elder Sitati say is the face of the Church?
Employees
President Nelson
Missionaries
Area Presidency
According to The Presiding Bishopric Vision, which of these is NOT a guiding principle of our work?
Local Adaptation
Teamwork
Simplicity
Continuous Improvement
True or False: When assessing risk, we consider both the likelihood and impact of the negative outcome.
True
False
Failure to properly withhold and remit VAT taxes falls under which type of business risk?
Security risk
Financial risk
Compliance risk
Strategic risk
Internal controls help us:
Meet organizational objectives
Reduce the risk of theft or loss
Maintain accurate financial reporting
All of the above
What is the term for when one person cannot perform all aspects of a process?
Segregation of duties
Teamwork
Distrust
Business objectives
Who is responsible to ensure internal controls are operating effectively?
Management
Auditors
Staff
All of the above
Finding coding errors while reviewing your monthly operating statement is an example of what type of control (select those that apply)?
Manual, preventive
Manual, detective
Automated, preventive
Automated, detective
