Chapter 3. The Governance of Risk Management Practice Question Set covers the following learning objectives:
* Explain changes in corporate risk governance that occurred as a result of the 2007 — 2009 financial crisis.
* Compare and contrast best practices in corporate governance with those of risk management.
* Assess the role and responsibilities of the board of directors in risk governance.
* Evaluate the relationship between a firm’s risk appetite and its business strategy, including the role of incentives.
* Illustrate the interdependence of functional units within a firm as it relates to risk management.
* Assess the role and responsibilities of a firm’s audit committee.
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