CPA Australia Financial Risk Management Practice Questions - CPA Program Financial Risk Management Exam

Under the 'three lines' governance model, the second line is primarily responsible for:

Risk management and compliance oversight functions that monitor and challenge the first line Owning and managing risk in day-to-day operations Providing independent assurance to the board and audit committee Setting the organisation's strategy and objectives

Correct Answer:

Risk management and compliance oversight functions that monitor and challenge the first line

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