Mastering Risk Management

INTRODUCTION

Risk and control self-assessments are a fundamental and often first step in risk management. Unless you have identified the risks to your business objectives and their mitigating controls, it is impossible to start managing them. Of course, once you have identified them it is then vital to work out how big they are by assessing them. These steps are fraught with problems which can be overcome through a little thought laced with business knowledge. Once the risk and control self-assessment (aka the risk register) has been created it can be used as a vital tool in managing the risks to your business.