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My audit - Risk Assessment - Step 1 - PLM

OUTCOMES
NEEDS
EXOGENOUS FACTORS

IMPACTS

RESULTS

OBJECTIVES

INPUTS

PROCESSES

OUTPUTS

Efficiency
Economy

Effectiveness

My audit - Risk Assessment - Step 1 - Flowchart

My audit - Risk Assessment - Step 1 - List of Expected Key Controls

Area Objective
Activity Process

List of Expected Key Controls

My audit - Risk Assessment - Step 2 - List of Identified Risks

Area Objective
Activity Process

Description of Risk
root-cause+problem + impact

Include in Risk
Analysis table Y-N

Comments

My audit - Risk Assessment - Step 3 - Risk Analysis table

The Risk Matrix


Impact

Overall risk evaluation:

Likelih
ood

Low
Low
Medium
High

Low
Risk can be
ignored

Medium
High
Judgement based Risk must be
on characteristic
followed up by
of defined risk
audit

Medium

High

The Risk Analysis Table


Area Objective
Activity
Process

Description of Risk
root-cause+problem + impact

Likelihood
H-M-L

Impact H-M-L

Risk level
H-M-L

Expected controls

Risk response

Residual
Risk
H-M-L

My audit - Risk Assessment - Step 4 - PAQS table

Area
Objective
Activity
Process

Risk

Residual
Risk
level

Audit Question

Relevance &
Interest H-M-L

Feasibility
Normal

Difficult

Not Feasible

Include in
Scope
YesNo