Today’s economy requires companies to identify and respond more quickly to changing risk profiles; therefore, all management is essentially risk management. Many risk management activities are well-defined, and accountability has been assigned. For risks that have not been defined/assigned, risks can slip between the cracks and/or be managed inconsistently due to individual perceptions of the significance of the risk. All of this can be avoided with the right risk reporting process.

This guide can be used by auditors looking to better understand the current scenario of risk management and develop a risk index.