IIA-Australia Factsheet - Risk Management

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Author	IIA-Australia
Date	2023
Topics Explored	Risk Management
Format	Factsheet
Extract/Description	People apply risk management without thinking about it. In everyday situations, we make decisions which include assessment of risks, for example when we cross a busy road. These days risk management is applied in a structured way to decision-making within organisations and there are two sets of standards commonly used to guide this. These standards are ISO 31000:2018 ‘Risk management – Guidelines’ and CSO ‘Enterprise Risk Management – Integrating with Strategy and Performance’.
Key Points	Risk management is the process of addressing the uncertainty inherent in achieving objectives.
Relevant Industries	All
Level of Assumed Knowledge	Beginner