Risk assessment is a process by which risks are identified, classified, and evaluated for the purpose of determining the extent of the exposure and potential impact of risk factors within the organisation and the environment in which it operates. For internal audit functions, risk assessment is a key element in the development of a risk-based internal audit plan. The identification, prioritisation and sourcing of key organisational risks is critical to ensuring that internal audit resources are allocated to the areas that matter most.
Deloitte’s internal audit approach includes a risk assessment stage, where we work closely with you to identify the areas of highest risk to your business. We help you develop a highly focused and robust risk assessment methodology that serves not only as a process for setting the internal audit plan, but can be used as part of your organisation’s risk management process.
Talk to us about risk assessments or learn more about risk management.