Which of the following statements is correct with regard to risk management?
Which of the following statements is correct with regard to risk management?
The total process of risk management, which includes a related system of internal control, is the responsibility of the board. This is because governing bodies, such as the board of directors, have the ultimate responsibility for ensuring effective risk management and oversight within an organization. While they may delegate specific tasks to various committees or management roles, the overall accountability remains with the board.
Shouldn't SM be responsible instead of board?
It's both technically