GRCA

Producing Value and Protecting Value are trade-offs. You CANNOT do both at the same time. *A . TrueB . FalseView AnswerAnswer: B Explanation: The statement that producing value and protecting value are trade-offs and cannot be done at the same time is false. In fact, both can and should be...

Which disciplines are integrated into GRC?A . Audit and AssuranceB . Governance and OversightC . Strategy and Performance ManagementD . Quality and ConformanceE . Information Privacy and SecurityF . Compliance and EthicsG . Risk and Decision SupportH . All of these disciplines are integrated into GRCView AnswerAnswer: H Explanation: GRC...

Which one of these is most associated with a "measure of how well we are addressing opportunities"A . ComplianceB . PerformanceC . RiskView AnswerAnswer: B Explanation: Performance is most associated with a "measure of how well we are addressing opportunities." Performance management focuses on setting goals, monitoring progress, and evaluating...

Reasonable assurance is a...A . low level of assuranceB . medium level of assuranceC . high level of assuranceView AnswerAnswer: C Explanation: Reasonable assurance is considered a high level of assurance. It indicates that the assurance provider has conducted a thorough and rigorous evaluation, although it does not guarantee absolute...

What level of assurance is required for an assessment?A . MediumB . HighC . LowD . An assessment may target any level of assurance. The key is to define this level prior to setting the purpose and parameters.View AnswerAnswer: D Explanation: The level of assurance required for an assessment can...

Achieving Principled Performance means to:A . Be an ethical performerB . Reliably achieve objectives, address uncertainty and act with integrityC . RecycleView AnswerAnswer: B Explanation: Achieving principled performance means reliably achieving objectives, addressing uncertainty, and acting with integrity. This concept integrates the management of performance, risk, and compliance to ensure...

Which of these is defined as "internally directing, controlling and evaluating an entity, process or resource"A . ManagementB . GovernanceC . AssuranceView AnswerAnswer: A Explanation: Management is defined as "internally directing, controlling and evaluating an entity, process or resource." Management involves overseeing the day-to-day operations of an organization, making decisions,...

The two kinds of PROACTIVE controls areA . training and educationB . promoting and preventiveC . access and systemView AnswerAnswer: B Explanation: Proactive controls are those measures implemented to prevent undesirable events before they occur. Promoting controls are designed to encourage desired behaviors and outcomes, such as compliance with policies...

Which of these is defined as "externally directing, controlling and evaluating an entity, process or resource"A . GovernanceB . AssuranceC . ManagementView AnswerAnswer: A Explanation: Governance is defined as "externally directing, controlling and evaluating an entity, process, or resource". It involves establishing policies, and continuous monitoring of their proper implementation,...

What are the common attributes of an assurance professional?A . Independence, objectivity and diligenceB . Objectivity, competence and fallibilismC . Objectivity, independence and freedomView AnswerAnswer: A Explanation: The common attributes of an assurance professional are independence, objectivity, and diligence. Independence ensures that the assurance professional is free from any influence...