- Control Risk
Control Risk, in auditing, is the risk that a company's
internal control s are insufficient to mitigate or detecterrors orfraud .ee also
*
Risk Assessment
*Inherent risk
*Detection Risk
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Control Risk
Look at other dictionaries:
control risk — internal control risk The risk that misstatements in the financial statements of a company will not be prevented or detected on a timely basis by the internal control system of a business. It is a part of the audit risk; an assessment of the… … Accounting dictionary
control risk — 1. The *risk that items in financial statements are *misstated as a result of problems in an organization’s *internal control systems. Control risk is considered alongside *inherent risk and *detection risk as one of three components of external… … Auditor's dictionary
Control Risk Self Assessment — CRSA A *risk assessment methodology in which an organization’s employees identify and assess areas of *risk and *control for which they are responsible. Control Risk Self Assessment (CRSA) mechanisms include the use of *questionnaires or the… … Auditor's dictionary
internal control risk — See: control risk See also: audit risk … Accounting dictionary
Risk Management Information Systems — (RMIS) are typically computerized systems that assist in consolidating property values, claims, policy, and exposure information and provide the tracking and management reporting capabilities to enable you to monitor and control your overall cost … Wikipedia
Risk assessment — is a common first step in a risk management process. Risk assessment is the determination of quantitative or qualitative value of risk related to a concrete situation and a recognized threat. Quantitative risk assessment requires calculations of… … Wikipedia
Risk — takers redirects here. For the Canadian television program, see Risk Takers. For other uses, see Risk (disambiguation). Risk is the potential that a chosen action or activity (including the choice of inaction) will lead to a loss (an undesirable… … Wikipedia
risk — The *probability of the occurrence of an event with negative consequences. The IIA defines risk as the probability that an event or action, or inaction, may adversely affect the organization or activity under review (quoted in Hermanson and… … Auditor's dictionary
Control Self Assessment — CSA An alternative term for *Control Risk Self Assessment … Auditor's dictionary
Control Risks Group — Control Risks is a global risk and strategic consulting firm specialising in political, security and integrity risk. Control Risks’ aim is to help its clients to understand and manage the risks of operating in complex or hostile environments.… … Wikipedia
