Which of the following steps in conducting a risk assessment should be performed FIRST? 

Answer options:

A. Identity business assets
B. Identify business risks
C. Assess vulnerabilities
D. Evaluate key controls

A

Risk assessment first requires one to identify the business assets that need to be protected before identifying the threats. The next step is to establish whether those threats represent business risk by identifying the likelihood and effect of occurrence, followed by assessing the vulnerabilities that may affect the security of the asset. This process establishes the control objectives against which key controls can be evaluated.