BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Establishing the context
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Risk identification
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Risk analysis
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Risk transfer
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Detailed explanation-1: -The correct answer is (d) eliminating all risks. Risks cannot be completely eliminated. However, they can be mitigated. The four stages of risk management are identifying risks, assessing them, controlling them, and reviewing the policies.
Detailed explanation-2: -The 4 essential steps of the Risk Management Process are: Identify the risk. Assess the risk. Treat the risk. Monitor and Report on the risk.
Detailed explanation-3: -(COSO), which is dedicated to providing thought leadership through the development of comprehensive. frameworks and guidance on enterprise risk management, internal control, and fraud deterrence designed to. improve organizational performance and governance and to reduce the extent of fraud in organizations.
Detailed explanation-4: -Explanation: Risk identification states what could cause a potential loss. 2. Which one is not a risk management activity? Explanation: Risk management activities would never want a new risk to be generated.