Risks have well-known similarities. All risks present a potential impact on an organization and management also does not know if or when they will transpire. However, there are also important and distinguishing differences among major categories of risk that should be considered. Not all risks should be subjected to the same assessment methodology.
When discussing how to improve the value contributed by risk management, we at Protiviti are often asked, “Where do we start?” At the heart of this question is the desire for a simple and practical point of view that makes sense in pra