CRISC Question 106

Community Discussion

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  B. Risk components Entity-based risks, also known as inherent risks or business risks, are risks that are specific to an organization and are inherent in its operations, industry, and external environment. These risks are often classified into various categories or areas that are relevant to the organization's activities. These categories are referred to as "Risk Components."

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  The "Risk Assessment" component specifically deals with identifying, analyzing, and managing risks, which is where entity-based risks would be addressed within the framewor