Risk Assessment Form

Risk is a measure of uncertainty or the chance of something happening that will impact our objectives.

Risks generally arise either as a result of a change in an organization's operating environment or as a result of inherent risk.

Examples of changes in the operating environment include:

• changes in information systems and technology,
• changes in personnel,
• the introduction of new programs,
• structural changes.

Examples of inherent risks may include:

• organizational or administrative complexity,
• high volume of cash receipts or disbursements,
• a history of prior problems,
• unusual internal or external pressure,
• management's unresponsiveness to identified problems.

Typically, risks are measured according to their likelihood of occurrence and the impact should they occur.