One way to evaluate risks as determined by the company’s risk assessment is through a risk matrix. Once risks are identified, they are then rated according to their significance and likelihood of occurring and then plotted on a heat map to determine their priority. The most significant risks with the greatest likelihood of occurring are deemed the priority risks, which become the focus of your remedial efforts or for continuous auditing. A variety of solutions and tools can be used to manage these risks going forward, but the key See more +
One way to evaluate risks as determined by the company’s risk assessment is through a risk matrix. Once risks are identified, they are then rated according to their significance and likelihood of occurring and then plotted on a heat map to determine their priority. The most significant risks with the greatest likelihood of occurring are deemed the priority risks, which become the focus of your remedial efforts or for continuous auditing. A variety of solutions and tools can be used to manage these risks going forward, but the key step is to evaluate and rate these risks. All your actions should flow from the risk ranking.
The most significant…
