An effective way to perform and document an engagement-level risk assessment is to create a risk matrix listing the relevant risks and then expand the matrix to include measures of significance.
Impact and Likelihood Scales
Executive The IIA Mar 05, 2021
The IIA
The Institute of Internal Auditors
Learn more with our other resources
Press Release
New Report Reveals the Value of Strategy Plus Increasing Responsibility for Internal Audit Leaders
Press Release
The Institute of Internal Auditors Opens Third-Party Topical Requirement for Public Comment
All Things Internal Audit
Advisory Work: How to Consult
Standards
Performance Measurement Tool
Essential News for Audit Leaders Network