An effective way to perform and document an engagement-level risk assessment is to create a risk matrix listing the relevant risks and then expand the matrix to include measures of significance.
Impact and Likelihood Scales
Tools The IIA Mar 05, 2021
The IIA
The Institute of Internal Auditors
Learn more with our other resources
CAE Bulletin
CAE Bulletin Issue: Jun 5, 2023
NewsRelease
The IIA Names Workiva as ESG Alliance Partner
Global Knowledge Brief
GRC Part 2: Quantifying Non-financial Risk
CAE Bulletin
CAE Bulletin Issue: May 22, 2023
All Things Internal Audit
Internal Audit Awareness Month
NewsRelease
The IIA’s Proposed Global Internal Audit Standards Available for Public Comment in More Than 20 Languages.
Executive Knowledge Brief