Control Risk Assessment

Control Risk Assessment is a process used to evaluate the effectiveness of an organization’s internal controls in managing risks that could lead to errors or fraud. It involves identifying potential risks, assessing the strength of the controls in place to mitigate those risks, and determining how likely it is that these risks could have a negative impact. By conducting this assessment, an organization can ensure that its operations are efficient, reliable, and compliant with laws and regulations, ultimately protecting its assets and reputation.