When it comes to human capital, "risk" and "uncertainty" are two different concepts, and they need to be addressed separately in order to minimize risk.
Whether your financial audit is a seamless process or a tiring uphill slog is largely up to you.
Regulators want to standardize risk assessment, rather than continue with the current hodgepodge of individual models.
Management review controls are often subjective, complex to analyze, and harder to audit than other kinds of financial information.
Internal auditors who incorporate data analytics will reap the benefits of real-time risk management.
