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
Executive The IIA Mar 05, 2021
The IIA
The Institute of Internal Auditors
Learn more with our other resources
All Things Internal Audit
2025 North American Pulse Report
Executive Knowledge Brief
In Times of Change
Global Best Practices
Navigating a New Political Landscape
Essential News for Audit Leaders Network