IIARF Bookstore Releases New Risk Assessment Guide
It is arguably one of the most important aspects of internal auditing. However, risk assessments and how to effectively approach and execute them still proves challenging for many practitioners. The IIARF Bookstore’s new release, The Internal Auditor’s Guide to Risk Assessment, puts practitioners’ minds at ease by dispelling common assumptions that there are any hard and fast rules to the process.
Author Rick Wright, CIA provides a step-by-step guide that outlines the key elements of a strong risk assessment framework and key concepts that should guide the process. The guide walks readers through the key considerations that should be thoroughly explored before execution including:
- Understanding the nature of risk
- Considerations for choosing the best approach for each organization
- Tools for conducting a risk assessment
- Special types of risk assessments
- Identifying risk appetite and solving common problems
In addition to outlining the process for building a strong risk assessment framework, Wright gives his audience ten key principles to walk away with that should guide them throughout the development and execution phases. This easy read is designed for a broad audience, from staff auditors to chief audit executives.
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