urgent

Risk management process commences when management considers the objectives of the organization. This includes identifying negative events known as risks. On the other hand, controls are action taken to mitigate risk and increase the likelihood of achieving the company's objectives. Required: i. Identify any THREE (3) external risk factors. For each risk, provide ONE (1) relevant example. (6 marks) ii. List any FOUR (4) limitation in any controls. (4 marks) iii. Outsourcing involves the use of independent parties to perform a function within an organization. Defend why outsourcing is NOT highly recommended. (10 marks)