Senior management performed the following steps during its recent deliberations over risk…

Senior management performed the following steps during its recent deliberations over risk management:Identified all the risks that might impede the achievement of the company’s mission.Designed new procedures to mitigate the risks associated with surplus equipment, one of the areas in which the risk of adverse impact was both material and likely.Ensured that the director of surplus management understood and enacted the new procedures.Reviewed regular reports from internal audit about the effectiveness of the new procedures for surplus equipment.The most serious deficiency with the process is that
A.Senior management did not consult with the director of equipment management before formulating the risk response.
B.Senior management did not prioritize the identified risks.
C.Internal audit was involved in the process too late.
D.The board did not create the position of chief risk officer.