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Home > How To Use Audit Software > Assess Risk |
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Assess Risk The first step in any review is to assess which areas are more prone to risk and then to establish appropriate responses to each risk.
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Risk Assessment Standard AS/NZS 4360:1999 (Australian/New Zealand Standard) - The AS/NZS 4360 is the only internationally accepted risk management standard. The Standard provides a generic guide for establishing and implementing the risk management process involving identification, analysis, assessment, treatment and continuous risk monitoring.
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Risk Assessment Standard COBIT - The COBIT (Control Objectives for Information and Related Technology) framework was released in 1996 and updated in 1998 and 2000 by ISACA. |
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BASEL
- The Basel Committee on Banking
Supervision is made up of members from 13 countries spread around the
world, and has over 30 technical working groups looking at things from
Capital Adequacy to Risk Management.
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COSO
- The COSO framework was developed to
help management better control their business activities. An internationally
recognized standard, it provides a starting point for the individual
assessment of internal control and applies a consistent approach to the
review of business entities.
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Cadbury
Report -
TCadbury (the Committee on the Financial Aspects of Corporate Governance)
was formed in 1991 by the UK Financial Reporting Council, the UK accountancy
profession and the London Stock Exchange. The committee was chaired by Sir.
Adrian Cadbury.
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Sarbanes-Oxley Central (AICPA) - Sarbanes-Oxley central website devoted to key links to up-to-date Sarbanes-Oxley, signed into law by President Bush on 30th of July 2002 and affecting SEC companies in their risk assessment procedures.. | ||||
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