Generated on 2014/06/19 at 04:58:31 AM


Type List | Item List

Process Item: ERM 3: Assess Risks


Acronym or Abbreviation ERM
Alias or Synonym ERM Phases, Standard ERM Framework
Key Words
Description (HTML) Determine if risks are adequately addressed. Choose those risks for further review, to document processes, and to test. Senior Assessment Team (SAT) for internal control will play a key role. Need to leverage existing SAT procedures. Activities:
  • Determine which risks to assess further.
  • Document processes and controls.
  • Analyze processes and controls for key controls, potential deficiencies, and control gaps.
  • Test controls: in place? working properly? being followed by staff?
  • Methods: document/diagram analysis, interviews, obervation, transaction testing.
    • Source Description US Dept of Commerce ERM Training
    Source URL
    Document No document attached...
    Item Quality Status (Item Quality Status) Incomplete
    Updated by webea.09
    Updated on 2014-04-09 17:19:17
    follows follows
    ERM 2: Identify and Score RisksProcess ERM 2: Identify and Score Risks
    included in included in
    ERM: Enterprise Risk Management ProcessProcess ERM: Enterprise Risk Management Process
    precedes precedes
    ERM 4: Treat RisksProcess ERM 4: Treat Risks