Category: Risk

Risk Matrix

Risk Matrix

What is a Risk Matrix A risk matrix is probably the inter-industry safety standard for the tool used in risk evaluation. In aviation SMS programs are ubiquitous. They use “probability” and “severity” to quantify the scope of a real or hypothetical safety scenario. The quantification is generally broken into 3 categories: Acceptable risk (green); Unacceptable […]

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Managing Fraud Risk

Managing Fraud Risk

According to Managing Fraud Risk: A Practical Guide, “personnel at all levels of the organization—including every level of management, staff, and internal auditors, as well as the organization’s external auditors—have responsibility for dealing with fraud risk.” While everyone within the organization has the duty to help fight fraud, the practical implementation of fraud risk management […]

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Fraud Risk Assessment

Fraud Risk Assessment

Fraud Risk Assessment Properly preparing the company for the fraud risk assessment is critical to the assessment’s success. The culture of the organization should influence the approach used in the fraud risk assessment preparation. The goals of the preparation should be to: Assemble the right team to lead and conduct the fraud risk assessment. Determine […]

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Reporting Risk Management

Reporting Risk Management

Reporting Risk Management Reporting risk management must review and report it for two reasons: To monitor whether or not the risk profile is changing. To gain assurance that risk management is effective, and to identify when further action is necessary. Reporting Risk Management Processes should be put in place to review whether risks still exist. […]

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Risk Analysis Management

Risk Analysis Management

Risk Analysis Management Whatever your role, it’s likely that you’ll need to make a decision that involves an element of Risk Analysis Management at some point. Risk is made up of two parts: the probability of something going wrong, and the negative consequences if it does. Risk can be hard to spot, however, let alone […]

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Operational Risk Management

Operational Risk Management

Operational Risk Management It is a methodology for organizations looking to put into place real oversight and strategy for Operational Risk Management when it comes to managing risks. So Every business faces circumstances or fundamental changes in their situation. We can see that it presents varying levels of risk for this business, from simple harassment […]

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Business Risks

Business Risks

Risk Assessment for Business Risks are part and parcel of everyday life. You might not realize you’re doing it, but you assess risks throughout your normal day. The risk of it raining and whether you need to carry an umbrella, the risk of getting caught in a traffic jam and being late for work, the […]

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Enterprise Risk Management

Enterprise Risk Management (ERM)

What is Risk? Risk can be viewed as the combination of the probability of an event and the impact of its consequences. Events with a negative impact represent risks that can prevent value creation or erode existing value. In order to deliver value to the stakeholders, we must understand the types of risks faced by […]

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Fraud Risk Management

Fraud Risk Management

Fraud Risk Management: Fraud and poor governance are serious risks for all organizations. High-profile cases in recent years have shown. That dishonest behavior not only undermines profits, operating efficiencies, and reliability but can severely damage an organization’s reputation. As a result of fraud-related collapses, governments around the world have undertaken regulatory initiatives in the fraud […]

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Financial Risk Management

Financial Risk Management

Financial Risk Management Financial Risk Management has increased significantly in recent years, risk and risk management are not contemporary issues. So the result of increasingly global markets is that risk may originate with events thousands of miles away that have nothing to do with the domestic market. Information is available instantaneously, which means that change, […]

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