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2. Crouhy writes, The board may be challenged by the complexity of the risk management process, but the principles at a strategic level are quite
2. Crouhy writes, "The board may be challenged by the complexity of the risk management process, but the principles at a strategic level are quite simple. There are only four basic choices in risk management." Each of the following of one of his four basic choices EXCEPT which is not? A. Avoid risk by choosing not to undertake some activities. B. Transfer risk to third parties through insurance, hedging, and outsourcing C. Mitigate (reduce) risk; e.g., mitigate operational risk through preventive and detective control measures D. Reclassify (redefine) risk; e.g., exclude liquidity risk from the definition of financial risk prioritize accounting performance
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