Inherent risk and control risk are essential concepts in risk management. They’re key parts of the audit risk model, which auditors use to assess overall risk and susceptibility during an... Read More
Risk Management
Threat, Vulnerability, and Risk: What’s the Difference?
Threat, Vulnerability, and Risk: What's the Difference? Key Takeaway Threats are potential dangers that can exploit vulnerabilities (weaknesses in systems). Risk measures the likelihood and impact of threats actually causing... Read More
Proactive vs. Reactive Risk Management Strategies
In a difficult economic climate, a company’s odds of survival depend on how skillfully it manages risk. A well-rounded risk management strategy can help companies stay in business because they... Read More
What Are the Top Operational Risks for Banks?
What Are the Top Operational Risks for Banks? Key Takeaway: Bank operational risks include cybersecurity threats, third-party vendor risks, internal and external fraud, and system failures. These risks arise from... Read More
What is Technology Risk?
Technology risk (or IT risk) is the chance that technology failures, such as cyberattacks, service outages, or outdated equipment, could disrupt business operations. If not managed properly, these risks can... Read More