Risk & Controls / Insight
Risk vs. Control
Understand the distinction between what could go wrong and what helps prevent or detect it.
Return to your library resultsRisk is what could prevent an objective from being achieved. A control is an action designed to address that risk.
Begin with the objective, define the possible failure, then assess whether the control is designed and performed well enough to respond.
Put the perspective to work.
Use these questions to connect the resource to your own business context.
What could prevent the objective from being achieved?
How does the control respond to that failure?
What evidence shows its design and actual operation?
Who owns exceptions, escalation and corrective action?
References & context.
Use the framework and jurisdiction applicable to your work. Original examples and templates do not imply endorsement by the referenced organisations.
A question, correction or missing source?
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