What is risk?



Risk is the possibility of an event occurring that will have an impact on the achievement of objective. risk is measured in terms of impact and likelihood.
DEFINITION OF RISK IN auditing
In other words risk is the possibility that the objective of the organization or procedure within the organization will not be achieved. Organization management always make sure that there are measures in place to monitor measure and evaluate risk in their organization so that they can mitigate them and enable the achievement of organization goal.
 

2 thoughts on “What is risk?”

  1. Pingback: What is the detection risk? - ACCA ONLINE ACCOUNTING TEACHER

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