1.4 Which one of the alternatives is FALSE regarding risk identification? a) Internal and external events which could possibly have an influence on the ability of the organisation to achieve its objectives should be identified as part of a continuous process. b) When an organisation is in the process of identifying risks, one of the methods is by having risk workshops where a group tries to find a solution for a specific problem. c) The process of risk identification in South African organisations is guided by the King III report and Code. d) Management can complete control self-assessments as a method or tool whereby management's perception of perceived risks, weaknesses and strengths within the business processes are identified/assessed. (2) 1.5 Which of the following actions would be involved in the objectives of risk management? 1) The taking into account of the organisation's strategic objectives, mission and vision when risk identification and the treatment thereof is handled. 2) The consideration of opportunities and risks that faces the organisation. 3) The evaluation of an organisation's future prospects such as assisting external fund providers with investment decisions. 4) The alignment of the risk management function to the achievement of the organisation's business objectives. All of the above statements Statements (1), (2) and (3) Statements (1), (2) and (4) d) Statements (1) and (4) (2) be 1.6 When a business process is broken down into its component parts in order to examine all the risks to that process, this method of identifying risk is referred to as? Brainstorming b) PESTEL analysis Diagnostics d) Fish bone (cause and effect) (2) c)