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- Is there a distinction between the terms "risk management" and "risk assessment?"It is important to include a list of the five different risk-control techniques as well as a brief explanation of each one.With the aid of examples, differentiate between these two risk control parameters used to measure performance or the effectiveness of risk control.
- Outline any five hierarchy of control measures, giving an example of why this measure would be chosen above other for different risk controls??What do you think are the most crucial elements to consider when designing an internal control system? Why? Think about all six sides of the regulatory classification cube (purpose, action, and severity).Risk management: what does that term mean? Describe the procedure for handling risks by referring to the image.