Risk Assessment Is Best Described By

Multiple Choice

Risk assessment is best described by:

A) Internal and external events affecting achievement of an entity's objectives must be identified, distinguishing between risks and opportunities.
B) Management selects whether to avoid, accept, reduce, or share risk - developing a set of actions to align risks with the entity's risk tolerances and risk appetite.
C) The entirety of enterprise risk management is monitored and modifications made as necessary.
D) The likelihood and impact of risks are analyzed, as a basis for determining how they should be managed.