Risk defines the world of the internal auditor. Ultimately, risk is what shapes our audit plans, directs our stakeholders, and determines our success or failure. That is why we spend so much time and effort helping our organizations identify, understand, and mitigate or leverage risks. Understanding the unique mix of risks our organizations face, and the risk appetites of our stakeholders, is crucial to internal audit adding value.
Read the whole Richard Chambers´ IA Internal Auditor blog post from here.