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The board of directors of a developing investment firm is currently assessing the company's approach to managing risk. In order to enhance their risk management capabilities, they have decided to implement an Enterprise Risk Management (ERM) system. Could you explain one significant advantage that the company is likely to gain by establishing an ERM framework?
A
Allowing the company to determine and make use of a higher risk appetite
B
Finding the optimal reporting methodology for each risk function
C
Improving the top-down communication and coordination in the company
D
Taking advantage of the new opportunities that create value on a standalone basis