Application Questions


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89.  The Vice President of Operations and the Vice President of Finance have expressed concern about the working relationships among various business units within the company.  The change in upper management six years ago recognized the opportunities for new markets and aggressively went after those markets.  As a result, the company has grown from a $2 Million gross income to a $12 Million gross income in five years.  The organization’s overall philosophy has changed from one of complacence to an aggressively competitive organization.  This new excitement of success and business outlook has enhanced the competitiveness among departments.  Hence, in the opinion of some members of upper management, this new environment has caused uncertainty about the continued future success of the company.  In the words of one Vice President, “It seems now that the numbers are what is strived for not the vision.”  The concerned executives have asked their risk and control team to develop a model that would help refocus the overall mission.  Which of the following would be the best model to address the over all picture and the portfolio of success inhibitors?

a. COSO; The Integrated Control Framework Of The Treadway Commission
b. a risk model that will completely address the probability and the impact of the risk upon the vision and objectives
c. an expanded control model that will help address the entire organization and all of the internal and external risk, as well as the strategic plan
d. control models that will ensure that preventive and corrective controls are adequately in place to address the vision                                                                         

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