Risk Management Flashcards
1
Q
What is the IPPF glossary definition of risk
A
The possibility of an event occurring that will have an impact on the achievement of objectives. Risk is measured in terms of impact and likelihood.
2
Q
What is the IPPF glossary definition of risk appetite
A
The level of risk that the organisation is willing to accept
3
Q
Standard 2120 - Risk Management states that…
A
the internal audit activity must evaluate the effectiveness and contribute to the improvement of risk management processes.
