risk assessment

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risk assessment

A report that shows an organization's vulnerabilities and the estimated cost of recovery in the event of damage. It also summarizes defensive measures and associated costs based on the amount of risk the organization is willing to accept (the risk tolerance).

A "risk analysis" is the process of arriving at a risk assessment, also called a "threat and risk assessment." A "threat" is a harmful act such as the deployment of a virus or illegal network penetration. A "risk" is the expectation that a threat may succeed and the potential damage that can occur. See risk management and risk mitigation.

Risk assessment

An evaluation of potential consequences to humans, wildlife, or the environment caused by a process, product, or activity; including both the likelihood and the effects of an event. Also, qualitative and quantitative evaluation of the risk posed to human health or the environment by the actual or potential presence or use of specific pollutants.
References in periodicals archive ?
Initially, enterprise risk assessment created a paperwork nightmare.
Three significant patents were awarded by the United States Patent and Trademark Office: Non-Determinative Risk Simulation, Automated Enterprise Risk Assessment and Automated Evidence Gathering.
He also spent time as the Chief Consultant for GMI Ratings and five years at Countrywide as Chief Audit Executive and Senior Managing Director of Enterprise Risk Assessment.
And a lack of compelling market demand for enterprise risk assessment tools has failed to induce IT entrepreneurs to invest in the development of systems that support ERM.
The group offers a wide array of enterprise risk assessment, mitigation and transfer services, including property claims resolution, workers' compensation cost control and claims advocacy, and Third-Party Liability Risk Management and Claims Advocacy.
Our new group is a talented team of professionals whose goal is to help clients meet the full array of enterprise risk assessment, avoidance and management challenges.
Services include Crisis Management, Enterprise Risk Assessment, Governance and Regulatory Compliance, Strategy Development and Deployment, Forensic Accounting and Litigation Support, Financial Reporting and CFO Advisory Services, Bankruptcy/Restructuring and Financial Recovery, Internal Audit,, Business Valuation, and Merger/Acquisition Transaction support.
Conducting an enterprise risk assessment can help to prioritize and identify opportunities for improvement.
Now in its 18th year, the agenda that includes methods to ensure SOX compliance, value-added audits, enterprise risk assessment, leveraging fundamental audit tools, and so much more.
The audit management capability includes enterprise risk assessment, scheduling and resource management, execution, reporting and monitoring/follow-up.
Audit Management -- An internal audit planning and execution system that supports enterprise risk assessment, planning, execution, documentation, reporting and follow-up.
Barra will become Senior Vice President -- Internal Audit, with responsibility for audit and enterprise risk assessment.

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