A, and B are incorrect. Identify Risks process takes place at all the stages of a project,
because risk changes over time.

Explanation/Reference:
Explanation:
The internal environment for risk management is the foundational level of the COSO ERM framework, which describes the philosophical basics of managing risks within the implementing enterprise. The different aspects of the internal environment include the enterprise's:
Philosophy on risk management

Risk appetite

Attitudes of Board of Directors

Integrity and ethical values

Commitment to competence

Organizational structure

Authority and responsibility

Human resource standards

Chief Risk Officer is the executive-level manager in an organization. They provide corporate, guidance, governance, and oversight over the enterprise's risk management activities. The main priority for the CRO is to ensure that the organization is in full compliance with applicable regulations. They may also deal with areas regarding insurance, internal auditing, corporate investigations, fraud, and information security. CRO's responsibilities include: Managing the risk assessment process Implementation of corrective actions Communicate risk management issues Supporting the risk management functions

Section: Volume D

Explanation/Reference:
Explanation:
CRO is the individual who oversees all aspects of risk management across the enterprise. Chief risk officer has the main accountability for collecting data and articulating risk. If there is any fault in these processes then CRO should be answerable.
Incorrect Answers:
A: Enterprise risk committee are the executives who are accountable for the enterprise level collaboration and consensus required to support enterprise risk management (ERM). They are to some extent responsible for articulating risk but are not accounted for it. They are neither responsible nor accounted for collecting data on risk.
B: Business process owner is an individual responsible for identifying process requirements, approving process design and managing process performance. He/she is responsible for collecting data and articulating risk but is not accounted for them.
C: CIO is the most senior official of the enterprise who is accountable for IT advocacy; aligning IT and business strategies; and planning, resourcing and managing the delivery of IT services and information and the deployment of associated human resources. CIO has some responsibility towards collecting data and articulating risk but is not accounted for them.