FAR EASTERN UNIVERSITY

INSTITUTE OF ACCOUNTS, BUSINESS, and FINANCE

Governance, Business Ethics, Risk Management and Internal Control

ACTIVITY D
NAME : DATE :
SECTION : SCORE :

ESSAY. (30 points)

BACKGROUND

You have learned that

1. risks is the possibility of an event occurring that will have an impact on the achievement of objectives”.
2. Objectives are the defined, intended outcomes
3. Controls increase the likelihood of achieving objectives

For example:
Objective
Wake up at 4:30am to go to school as early as possible
Risks
Oversleeping
Insomnia
Controls
Set up alarm clock
Drink milk or take herbal sleeping medicine
Inform other people

QUESTION:

Using the given format, formulate or write your own objective (goal), risk and controls in
relation to:

1. Finishing this course (ACT1110) (10 points)

Objective:
Risk: (Give at least 2)
Controls: (Give at least 2)

2. Starting or managing your own business. (10 points)

Objective:
Risk: (Give at least 2)
Controls: (Give at least 2)

3. Applying for your dream job. (10 points)

Objective:
Risk: (Give at least 2)
Controls: (Give at least 2)