Risk assessment is a process A. That assesses the quality of internal control throughout the year. B. That establishes policies and procedures to accomplish internal control objectives. C. Designed to identify potential events that may affect the entity. D. Of identifying and capturing information in a timely fashion.

C. Designed to identify potential events that may affect the entity.

Explanation:

Risk assessment means the total method in which the hazard or the factors related to the risk that result in damage or harm something. It could be analyzed and evaluated with the analysis of the risk and the evaluation of the risk.

It is to be designed in order to identify the events that could impact the entity

Therefore the option c is correct