Developing a risk$-$based audit plan requires a risk assessment. Under the model of the Committee of Sponsoring Organizations of the Treadway Commission $($COSO$)$ Internal Control$$Integrated Framework, which one of the following explains how risk assessment is addressed?

Select one:

A$.$ It is narrower and it provides concrete steps which are recommended and differ by industry.

B$.$ It expands the risk assessment concept by comparing it to competitor audits.

C$.$ It expands the risk assessment concept by identifying five interrelated components of internal control.

D$.$ It is essentially the same as the traditional model, but is codified in steps that are reported.