A process by which compliance with laws and regulations can be assessed: __________

a. A process designed to identify material events that may affect the financial statements and to manage risk within the entity's risk appetite
b. A process, effected by an entity's board of directors, management, and other personnel designed to identify potential events that may affect the entity and to manage risk within its risk appetite
c. A process of evaluating internal controls to ensure operations are carried out efficiently and effectively