1:06:39 Exit An organization's directors, management, external auditors, and internal auditors all play important roles in creating a proper control environment. Senior management is primarily responsible for Implementing and monitoring controls designed by the board of directors. Ensuring that external and internal auditors adequately monitor the control environment. Establishing a proper organizational culture and specifying a system of internal control. Designing and operating a control system that provides reasonable assurance that established objectives and goals will be achieved. 8 Company management completes event identification and analyzes the risks. The company wishes to assess its risk after management's response to the risk. According to COSO, which of the following types of risk does this situation represent? Event risk Detection risk Inherent risk Residual risk