1. Identify and discuss the roles and responsibilities of various players within the Governance Process at an Enterprise.
2. What are the three dimensions of the COSO ERM framework? Discuss any one of them highlighting its relationship to the other two.
3. Read the IIA's Position Paper: ‘The Three Lines of Defense in Effective Risk Management and Control.
Discuss how you can apply the model for the effective Governance and Risk Management in a company. Feel free to use the example of any firm that you know.
4. Learning Activity #1
To Lie or Not to Lie
Assume you have frequently been late to work in the past several months, not for a specific reason except that you overslept several times, are often disorganized about getting your children to the school bus in the mornings, and about getting yourself ready for work. Your manager asked to meet tomorrow to discuss your tardiness. You are concerned you will be fired.
You know your manager was empathetic and helpful to a co-worker who was late to work several times because of complications with the family's daycare center and school arrangements for their children. You are considering lying to your manager about the reason(s) for your tardiness.
How would you respond to your manager and why?
What ethical theory could apply to guide your decision?
5. Learning Activity #2
Stakeholder Role Play
Assume the role of a consumer stakeholder; you are to:
1) identify 3 personal, moral values that you believe are important;
2) identify 3 ethical values you would expect from a business; and
3) identify and briefly discuss 1 example of what constitutes ethical behavior and 1 example of what constitutes unethical behavior on the part of a business organization.