73040
Description
Mind Map by helen_woolford, updated more than 1 year ago
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Created by helen_woolford
almost 11 years ago
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Approaches to
defining risk
- Definition of risk
- ISO Guide 73
ISO 31000
- Institute of Risk
Management
(IRM)
- ISO Guide 73
ISO 31000
- Types of Risk
- Hazard (pure)
- Control (uncertainty)
- Opportunity (Speculative)
- Embrace
- Embrace
- Manage
- Opportunity (Speculative)
- Mitigate
- Control (uncertainty)
- Hazard (pure)
- Risk Description
- A detailed description is
necessary so that a
common understanding
of the risk can be
identified and
ownership/responsibility
can be clearly
understood
- A detailed description is
necessary so that a
common understanding
of the risk can be
identified and
ownership/responsibility
can be clearly
understood
- Inherent level of risk
- The Institute of Internal auditors
- identify controls
- Risk Assessment
- identify controls
- The Institute of Internal auditors
- Risk Classification System
- Source of risk
- Component impacted
- Consequence of risk occuring
- Source of risk
- Risk likelihood & Magnitude
- Risk matrix
- nature of risk
- control mechanisms
- inherent, current and target level
- inherent, current and target level
- control mechanisms
- nature of risk
- Risk matrix
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