What is enterprise risk management $($ERM$)?$

Multiple Choice

$0$

a process of evaluating internal controls to ensure operations are carried out efficiently and effectively

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a process by which compliance with laws and regulations can be assessed

a process designed to identify material events that may affect the financial statements and to manage risk within the entity's risk appetite

a process, effected by an entity's board of directors, management, and other personnel designed to identify potential events that may affect the entity and to manage risk within its risk appetite