Professional Documents
Culture Documents
Risk analysis
1. Risk identification (“what is the risk”) – a description of the risk presented
Considerations: financial effect, reputation impacts, ability to achieve key goals and
objectives
Example: Risk of non-compliance due to reports of financial information required by
regulatory agencies or tax authorities being incomplete, inaccurate, or untimely, exposing
the company to fines, penalties and sanctions.
4. Likelihood (“how often”) –probability of the risk occurring over a defined time frame