The following report gives Audit Director the possibility to easily detect possible inconsistencies between the Risk's ratings, their mitigating Controls' effectiveness and their materializing Incidents.

1) Check on Risk Management's ability to reduce Risk ratings by comparing Net Risk to Target Risk.

2) Check on effectiveness of Controls in mitigating Risks.

3) Compare Risks and Controls against Incidents.

 

Example: If Risk management assesses Net Risk ratings as satisfactory but the mitigating Controls are deemed inadequate and Incidents keep on materializing, these Risks and their mitigating Controls may be worth including in the next Risk Based Internal Audit.

 

 

 

 

 

 

HOPEX Enterprise Risk Management.