Which of the following processes does the board manage to ensure adequate governance?

Which of the following processes does the board manage to ensure adequate governance?
A . Establish and measure performance objectives for the internal audit activity.
B . Select board members with necessary knowledge and skills.
C . Develop, approve, and execute the strategic plan of the organization.
D . Develop strategies to mitigate the risks to achieving the organization’s objectives

View Answer

Answer: C

Explanation:

The board manages the process of developing, approving, and executing the strategic plan of the organization to ensure adequate governance. This responsibility includes aligning the strategic plan with the organization’s goals and monitoring its execution, which is a key governance role.

Reference: Corporate governance principles; IIA guidance on the role of the board in strategic planning.