Suggested Answer:A🗳️
The organizational levels of the COSO ERM framework describe the subsidiary, business unit, division, and entity-levels of aspects of risk solutions. Incorrect Answers: B: Risk components includes Internal Environment, Objectives settings, Event identification, Risk assessment, Risk response, Control activities, Information and communication, and monitoring. C: Strategic objectives includes strategic, operational, reporting, and compliance risks; and not entity-based risks. D: This is not a valid answer.
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."
The "Risk Assessment" component specifically deals with identifying, analyzing, and managing risks, which is where entity-based risks would be addressed within the framewor
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