FIN 703

1. The type of culture (according to Handy) that can be found in smaller organisations where power and influence stem from a single source.
3. The theory of risk management that focuses on risk diversification.
7. Two words that describes the system by which organisations are directed and controlled.
10. This needs to be maximised before accepting certain level of risk.
11. Directors that are important for directing a company, but who do not have managerial responsibilities.
12. Whistleblowing is a means to __________ fraud.
13. Relates to the amount of risk an investor is willing to accept.
14. The risk management strategy you follow if you insure agains the risk.

2. Making employees responsible for achieving and setting targets and freedom to make decisions.
4. Someone who attempts risk reduction through formal risk management procedures.
5. A risk that may have an upside or a downside.
6. This relates to the design of accounting systems and presupposes that systems can be effectively designed to suit the circumstances of the firm.
8. The use of external suppliers for goods or services instead of doing it in-house.
9. Interacting components that operate together to accomplish a purpose.