Who is primarily responsible for operational implementation of transactions?, ISCD, ISAD, Business Unit / Operations, ISSC, The main role of ISCD in the workflow is to:, Execute transactions, Approve financial reports, Translate Shari’ah rulings into controls and monitor execution, Perform external audits, In Murābaḥah, which unit uploads the invoice and executes the sale contract?, SCD, ISSC, Internal Audit, Business Unit / Operations, ISCD monitoring ensures that:, Profit is maximized, Transactions follow approved Shari’ah requirements, Customers are satisfied, Auditors complete reports, Which of the following best describes ISCD risk matrix?, Detective tool after execution, Preventive tool before and during execution, External reporting tool, Financial reporting tool, Which element is included in ISCD risk matrix but NOT in ISAD?, Likelihood, Impact, Residual risk, Observation, The purpose of ISAD risk matrix is to:, Prevent risks, Execute transactions, Approving Shari’ah products, Support audit planning and classify findings, In the Murābaḥah example, “missing invoice” is classified under:, ISCD control, ISAD observation, Business process, Policy requirement, Residual risk refers to:, Risk before controls, Risk after applying controls, Risk identified by audit only, Financial risk only, The key difference between ISCD and ISAD is:, Both perform the same role, ISCD executes transactions while ISAD approves them, ISCD prevents risk while ISAD evaluates whether failure occurred, ISAD designs controls while ISCD audits them

ISCD Workflow & Risk Matrix

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