a.Enterprise Risk ManagementIntegrated Framework (ERM) expands on the elements of the internal control integrated framework and provides an all-encompassing focus on the broader subject of enterprise risk management.The purpose is to achieve all the goals of the control framework.

REQUIRED:

Explain anyFIVE (5)basic principlesofEnterprise Risk management.

b.Apayroll service bureaumaintains the payroll master data for each of its clients and process payroll for them. AProfessional Employer Organization (PEO)not only processes payroll but also providesHuman Resource Management (HRM)services such as employee benefit design and administration.

REQUIRED:

Describe why payroll service bureaus andProfessional Employer Organizations (PEO)are especially attractive to small and midsized businesses.