1. Refer to textbook chapter 3 and AU 315.04. The concepts of risk and internal control are related. Among management's many responsibilities one normally finds that setting and achieving objectives is of the highest priority. AU 315.04 defines business risk as: A risk resulting from significant conditions, events, circumstances, actions, or inactions that could adversely affect an entity's ability to achieve its objectives and execute its strategies or from the setting of inappropriate objectives and strategies. AU 315.04 also defines internal control: Internal control is a process effected by those charged with governance, management, and other personnel that is designed to provide reasonable assurance about the achievement of the entity's objectives with regard to the reliability of financial reporting, effectiveness and efficiency of operations, and compliance with applicable laws and regulations. Fill in the word combination that correctly completes the sentence. Internal control is used to the risks to achieving objectives. For financial reporting, an organization presumably has an objective of O a. enhance; reliable reporting O b. eliminate; unlock shareholder value O c. mitigate; reliable reporting O d. mitigate; assuring profitability O e. enhance; assuring profitability