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  • Activity E - Actual ICF Manual

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    Carmela Wong
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    The document provides an activity on governance, business ethics, risk management and internal control from Far Eastern University. It contains an instruction to review a sample implementation of the Internal Control Framework of Royal Friesland Campina. The questions assess understanding of: 1) The risks the framework addresses so they remain within materiality or risk appetite. 2) The steps in implementing the framework. 3) The compositions of the first, second, and third lines of defense. 4) A specific tool used to assess internal control.

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    The document provides an activity on governance, business ethics, risk management and internal control from Far Eastern University. It contains an instruction to review a sample implementation of the Internal Control Framework of Royal Friesland Campina. The questions assess understanding of: 1) The risks the framework addresses so they remain within materiality or risk appetite. 2) The steps in implementing the framework. 3) The compositions of the first, second, and third lines of defense. 4) A specific tool used to assess internal control.

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    © All Rights Reserved
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    70 views1 page

    Activity E - Actual ICF Manual

    Uploaded by

    Carmela Wong
    The document provides an activity on governance, business ethics, risk management and internal control from Far Eastern University. It contains an instruction to review a sample implementation of the Internal Control Framework of Royal Friesland Campina. The questions assess understanding of: 1) The risks the framework addresses so they remain within materiality or risk appetite. 2) The steps in implementing the framework. 3) The compositions of the first, second, and third lines of defense. 4) A specific tool used to assess internal control.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    FAR EASTERN UNIVERSITY

    INSTITUTE OF ACCOUNTS, BUSINESS, and FINANCE

    Governance, Business Ethics, Risk Management and Internal Control

    ACTIVITY E
    NAME : DATE :
    SECTION : SCORE :

    INSTRUCTION (20 points)

    Presented is a sample implementation of the Internal Control Framework of Royal Friesland


    Campina (RFC). Read carefully and take note of important contents. Answer the questions
    below.

    1. What are the risks intended to be addressed in RFC so that they remain within the agreed
    and defined materiality or risk appetite? (5 points)

    2. What are the steps in ICF implementation for RFC? (5 points)

    3. What are the compositions of the first, second, and third lines of defense in RFC? (5
    points)

    4. Identify and describe the specific tool used by RFC in the assessment of internal control?
    (5 points)

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