Risk Management Exam Review

Features Risk Management Exam Review

This is a Combination of sets, containing concepts, practice questions and study cards for exam preparation on the topic of Risk management.With this app you can learn on the Go & everywhere.
Our Learners Don't just meet standards, They exceed them.Get +2400 Study notes , Terms, Concepts, Quizzes & practice cases, and become a Risk Management Expert.This application allows you to expand your Risk management knowledge, widen your Risk sense expertise, improve your practice skills, Broaden your career & academic horizons.Invest in your Success Now.Your investment in knowledge, professionalism & expertise is durable with a High added value, it's a High return investment.This app is suitable not only for Risk practitioners but also for safety professional, HSE engineer & CPA, CMA, CIA, ACCA, COSO, IFRS, CRMA, CA, ACA, CFA, CFE, CISA, PMP, AP, CGAP, CRMA, CTP, CPP, CFP candidates, it's also suitable for EY, PWC, KPMG BDO, Protiviti & deloitte auditors & consultants.-The Content & design of this application is developed to satisfy the exact exam candidates needs-We keep the application as simple as possible to let the learner focus only on the content-The Flashcards are exam oriented and designed to enhance quick memorization-The application is designed to let you gain time and efficiency-The Flashcards wording enhances easy understanding to ensure higher exam score.This App energized your creativity, showcases your talents and strength your self-confidence during the exam & daily work.-This application is downloaded and used by graduate & undergraduate students, teachers, lecturers, professionals, PhD, researchers, reviewers not only in the US but also in Philippines, Canada, India, Australia, Turkey, Russia, UK, GCC, India, Saudi Arabia, Nigeria, and all over the world.Main Features:- +2400 exam questions and study notes- 5 study modes- Shareable content- Settings: with flexibility to change font size & background controlRisk management is the identification, assessment, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events[1] or to maximize the realization of opportunities.
Risk management’s objective is to assure uncertainty does not deflect the endeavor from the business goals.Principles of risk managementThe International Organization for Standardization (ISO) identifies the following principles of risk management:Risk management should:create value – resources expended to mitigate risk should be less than the consequence of inaction, or (as in value engineering), the gain should exceed the painbe an integral part of organizational processesbe part of decision making processexplicitly address uncertainty and assumptionsbe a systematic and structured processbe based on the best available informationbe tailorabletake human factors into accountbe transparent and inclusivebe dynamic, iterative and responsive to changebe capable of continual improvement and enhancementbe continually or periodically re-assessedRisk assessment is the determination of quantitative or qualitative estimate of risk related to a concrete situation and a recognized threat (also called hazard).
Quantitative risk assessment requires calculations of two components of risk (R): the magnitude of the potential loss (L), and the probability (p) that the loss will occur.For audits performed by an outside audit firm, risk assessment is a crucial stage before accepting an audit engagement.
According to ISA315 Understanding the Entity and its Environment and Assessing the Risks of Material Misstatement, "the auditor should perform risk assessment procedures to obtain an understanding of the entity and its environment, including its internal control.