QUESTION 1 (30%)

In the world of professional industries, when conducting operational activities, top management have to be careful and well-conceived consideration is required so that it can be delivered in accordance with applicable rules and codes of ethics, as well as the manner in which the activities carried out are in line with the vision and goals of the company. To achieve the company's objectives faster and continually improve company performance, top management must be able to develop a routcome-based management strategy by obtaining detailed information and insights to support the decision-making process. For the purpose of drafting a conceptual framework in the form of organizational strategy, the leader hopes to help minimize risks that are detrimental to the company's activities, which in this case certainly requires the assistance of various parties, especially internal auditors that will help stakeholders by ensuring how the internal monitoring and control processes have been working properly and how the resource management has worked optimally. It also aims to ensure how all fields within the company are coordinated in an integrated manner so that communication and information can be delivered more securely.

Required:

Explain the difference between risk and problem and do you think they are considered as a negativity for the companys operations?

To prevent unwanted things that could happened, internal auditors must carefully observe how all activities in each section of the company have been carried out in accordance with the rules within the company, thus requiring guidelines that can be the basis for improving control, which it has an impact on corporate governance. Explain how COSO's internal control regulations can help support corporate governance and can help auditor and top management to identify risks to take immediate action to prevent more negative risk in the future.

Explain the characteristics of good corporate governance based on the elements of corporate governance and how they can revitalize structure and performance that can grow sustainably.

Create a risk management strategy that can help to reduce the emergence of risks that harm the business.