Inherent Risk Controls Residual Risk

Overview

Risk Assessment is very important as it provides the organization with an objective measure to differentiate between low risks and high risks. Risk Identification is an important step but often we end up with hundreds of risks without a clear way of determining which risks are the ones most important. The Risk Assessment methodology below describes how easy2comply meets these challenges.

Easy2comply also offers the ability to perform a quantitative assessment of the risk as well as a Scorecard / Questionnaire approach. These are not dealt with in this methodology paper.

The qualitative methodology is divided into three components:

1. Inherent Risk
2. Controls
3. Residual Risk

The combination of the Inherent Risk value together with the Controls generates a Residual Risk level

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