Which of the following statements regarding the firm’s risk appetite and/or its business strategy is most accurate.
A.
The firm’s risk appetite does not consider its willingness to accept risk.
B.
The board needs to work with management to develop the firm’s overall strategic plan.
C.
Management will set the firm’s risk appetite and the board will provide its approval of the strategic plan.
D.
Management should obtain the risk management team’s approval once the business planning process is finalized.