Question $6(2\mathrm{.}5$ points$)$

The audit committee would like you to explain to them what enterprise risk management is all about. How would you describe it to them?

Question $6$ options:

$1)$

A narrow process of identifying, categorizing, prioritizing, and ignoring a company's risk

$2)$

A narrow process of identifying, grouping, prioritizing, and ignoring a company's risk

$3)$

A comprehensive process of identifying, categorizing, prioritizing, and responding to a company's risk

$4)$

A comprehensive process of listing, prioritizing, and responding to a company's risk