Management has the responsibility, and the ability, to take action to reduce risks or to lessen the impact al nearly all risks an organization faces.The steps taken by management to lessen the risk or reduce the impact of the risk, are referred to as:
A)Programs
B)Risk assessment
C)Information evaluation
D)Controls

Question

Quizplus · Accepted Answer

The steps taken by management to lessen the risk or reduce the impact of the risk are referred to as controls. Controls are the policies, procedures, and measures that management puts in place to manage risks effectively. This includes implementing measures to prevent, detect, and respond to risks, as well as monitoring and reviewing the effectiveness of these measures. Programs, risk assessment, and information evaluation are all important components of risk management, but they are not the specific steps taken by management to reduce the impact of risks.

Management Has the Responsibility, and the Ability, to Take Action