ORM

ORM practice questions, page 3 of 3, with answer review and explanations.

Question 11

Which of the following best describes the role of the compliance department?

  1. The compliance department is responsible for implementing the first line’s compliance risk management controls.
  2. The compliance department is responsible for providing oversight over the auditor’s implementation of compliance risk management controls.
  3. The compliance department is responsible for providing oversight over the board’s implementation of compliance risk management controls.
  4. The compliance department is responsible for providing oversight over the first line’s implementation of compliance risk management controls.