4.1 The following statements relate to the risk management of a company. For each statement select the box according to whether the statement is TRUE or FALSE (3)

4.1.1 When senior management are asked to identify risk, this is known as a top-down approach to risk identification.

4.1.2 Only the board of directors can be involved in risk management decision making.

4.1.3 Treasury and Payroll department are key role players in the risk management of a company.