Enterprise Risk Management in Managerial Accounting

The video tutorial discusses managerial accounting's role in identifying and managing risks. It explains that companies use specific controls to reduce risks, not eliminate them. An example of an Internet server company is used to illustrate risk mitigation strategies, such as having backup servers to limit potential risks.

Explain the concept of risk mitigation in the context of enterprise risk management.

Provide an example of a risk that an internet server-based company might face and how it could mitigate that risk.