Risk Management and Governance Processes

The textbook lists five components necessary for effective auditing and monitoring of risk management and governance processes. Explain the components and identify a relevant or applicable AICPA Code for each one. Cite specific Code numbers, making sure to use the current Code effective December 15, 2014. Finally, identify the component you believe is most important, explain your choice, and apply a biblical principle. Properly cite at least three (3) professional, scholarly, peer-reviewed sources in addition to the course textbook and the Bible. The biblical integration should NOT be an afterthought (a devotional that has nothing to do with the content), but it should be purposefully integrated. Chapters from textbook are attached. The text book used is – Liberty University Custom: Girgenti et al. (2019). ACCT 650: Corporate governance & fraudulent financial reporting (Custom ed.). New York, NY: McGraw-Hill, Inc. ISBbcqN: 9781307470505 (Textbook Chapters Attached)

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