According to the COSO enterprise risk management (ERM) framework, which of the following is not a typical responsibility of the chief risk officer?
A) Establishing risk category definitions and a common risk language for likelihood and impact measures.
B) Defining ERM roles and responsibilities.
C) Providing the board with an independent, objective risk perspective on financial reporting.
D) Guiding integration of ERM with other management activities.

Question

Quizplus · Accepted Answer

The chief risk officer typically does not provide an independent, objective risk perspective on financial reporting; this is more aligned with the responsibilities of internal or external auditors. The CRO focuses on establishing risk frameworks, defining roles, and integrating ERM with management activities.

According to the COSO Enterprise Risk Management (ERM) Framework, Which