In the event identification component of the COSO ERM framework,management must classify events into which of the following?
A)Weaknesses and vulnerabilities.
B)Risks and opportunities.
C)Risks and rewards.
D)Controls and vulnerabilities.

Question

Quizplus · Accepted Answer

In the event identification component of the COSO ERM framework, management must classify events into risks and opportunities. This involves identifying potential threats to the organization's objectives as well as identifying potential opportunities for improvement. Option A is incorrect because it only identifies weaknesses and vulnerabilities, and options C and D are incorrect because they do not capture the full spectrum of potential events that need to be identified.

In the Event Identification Component of the COSO ERM Framework,management