Question

Question 24

Which of the following committees would review the risk management procedures for appropriateness and effectiveness?
Options
a. Executive committee
b. Audit committee
c. Nomination committee
d. None of the above

Answer 1

b) Audit Commitee

Step-by-step explanation:

The audit committee is typically responsible for overseeing and reviewing various aspects of a company's financial reporting and controls, including risk management procedures. One of the key functions of an audit committee is to assess the appropriateness and effectiveness of risk management processes and procedures in place. This includes reviewing the company's risk management framework, policies, and strategies to ensure they are comprehensive, effective, and aligned with the organization's objectives. The audit committee plays a vital role in providing oversight and assurance regarding the company's risk management practices.