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a. An organization may accept the risk if it is prepared to absorb or mitigate the impact of the risk. b. An organization may take the risk but tries to lower the impact and possibility of occurrence of the risk. c. An organization may take the risk but not the return

a. An organization may accept the risk if it is prepared to absorb or mitigate the impact of the risk. b. An organization may take the risk but tries to lower the impact and possibility of occurrence of the risk. c. An organization may take the risk but not the return

Auditing: A Risk Based-Approach to Conducting a Quality Audit
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter7: Planning The Audit: Identifying, And Responding To The Risk Of Material Misstatement
Section: Chapter Questions
Problem 21MCQ
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Which is not an organization's response to risks? *

a. An organization may accept the risk if it is prepared to absorb or mitigate the impact of the risk.
b. An organization may take the risk but tries to lower the impact and possibility of occurrence of the risk.
c. An organization may take the risk but not the returns that come with it.
d. An organization may opt not to take the risk by avoiding the activity with associated risk.

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