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Match each description to the appropriate component of the ERM Framework.

Internal Environment Objective Setting Event Identification Risk Assessment and Risk Response Control Activities Information and Communication Monitoring

A. The ERM process must be continuously evaluated and modified as needed, and deficiencies must be reported to management. B. Corporate vision or mission; Management sets at the corporate level and then subdivides into specific subunits. C. Policies and procedures that provide reasonable assurance that control objectives are met and risk responses are carried out. D. Management must try to anticipate all possible positive or negative incidents and determine which are most and least likely to occur. E. Company culture, influences how organizations establish strategies and objectives; structure business activities; and identify, assess, and respond to risk. The foundation for all other ERM components. F. Understanding how transactions are initiated, data are captured, files are accessed and updated, data are processed, and information is reported. G. Management must assess a risk's likelihood and impact, as well as the costs and benefits of alternate responses.

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