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When reviewing risk, the four key considerations are: the likelihood of the risk occurring, the potential consequences of the risk if it does occur, the effectiveness of existing control measures, and the cost of implementing additional controls to further mitigate the risk. It's essential to weigh these factors to ensure that risk management efforts are both effective and proportionate to the level of risk. Additionally, involving stakeholders and ensuring compliance with legal and regulatory requirements are crucial in this process.

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2mo ago

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