The process of risk assessment would include all of the following actions, except:
A)Identify sources of risk, both internal and external
B)Determine the impacts of identified risks
C)Develop and execute an action plan to reduce the impact and probability of identified risks
D)Report the risks to the audit committee

Question

The process of risk assessment would include all of the following actions, except:
A)Identify sources of risk, both internal and external 
B)Determine the impacts of identified risks
C)Develop and execute an action plan to reduce the impact and probability of identified risks
D)Report the risks to the audit committee

Quizplus · Accepted Answer

The process of risk assessment would involve identifying sources of risk, determining the impacts of identified risks, and developing and executing an action plan to reduce the impact and probability of identified risks. Reporting the risks to the audit committee is an important step in the risk management process, but it is not a part of risk assessment specifically.

The Process of Risk Assessment Would Include All of the Following