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Internal Audit: Trends in 2021

The primary role of auditors is to help the organization remain compliant and meet its objectives efficiently. The growing and changing needs of stakeholders, crisis management requirements, and uncertainty have widened the scope of internal audits. In response to these requirements, new trends have emerged in the field of internal audit that will add value to the organization and guide it through the landscape of risks.
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Understanding Risk Appetite and Risk Tolerance

Minutes Risk management is the process of identifying, assessing, and managing risks in an organization. In times of uncertainties, the organization looks to risk managers to make crucial decisions about risk management and mitigation. Risk officers are required to bring all stakeholders on the same page and decide on the organization's risk appetite. Risk appetite and risk tolerance are the two essential concepts in risk management around which misconceptions and confusion are prevalent.
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What is a Risk Management Plan?

Every organization faces certain types of risks in business. Any factor that threatens an organization's ability to achieve its goal is considered a business risk. The major categories of risks to consider are: strategic risks, compliance risks, financial risks, and operational risks. Another important way to categorize risk is based on the source of the risk and see whether they are internal or external risks.
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