The Chief Information Officer (CIO) is reviewing the IT centric BIA and RA documentation. The documentation shows that a single 24 hours downtime in a critical business function will cost the business $2.3 million. Additionally, the business unit which depends on the critical business function has determined that there is a high probability that a threat will materialize based on historical data. The CIO’s budget does not allow for full system hardware replacement in case of a catastrophic failure, nor does it allow for the purchase of additional compensating controls. Which of the following should the CIO recommend to the finance director to minimize financial loss?
A . The company should mitigate the risk.
B . The company should transfer the risk.
C . The company should avoid the risk.
D . The company should accept the risk.