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What is Inherent Risk

Chapter 2
Cases on Optimizing the Asset Management Process
Risk without any controls in place.
Published in Chapter:
An Overview of the IT Risk Management Methodologies for Securing Information Assets
Sayan Mercan Dursun (Fortinet, USA), Meltem Mutluturk (Bogazici University, Turkey), Nazim Taskin (Bogazici University, Turkey), and Bilgin Metin (Bogazici University, Turkey)
Copyright: © 2022 |Pages: 18
DOI: 10.4018/978-1-7998-7943-5.ch002
Abstract
Effective information asset management is the basis of information security as well as many other issues. IT risk assessments work well with the proper handling of asset values, and also it is for effectively securing information assets. There is also a wide variety of risk assessment methodologies. This chapter presents information about the overall IT risk management process and methodologies. Best practices are mentioned and occasionally compared based on the requirements of the information technology (IT) sector in practice. This chapter will provide deep knowledge about the IT risk management approach and construction to implementers, risk owners, IT auditors, executive managers, and other IT staff.
Full Text Chapter Download: US $37.50 Add to Cart
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Chapter 9
Artificial Intelligence and Auditing: Benefits and Risks
Inherent risk can be defined as the probability of any material misstatement, independent of internal controls. So, inherent risk arises from the nature of business transactions or operations without any internal control implementation for mitigating risks.
Published in Chapter: Artificial Intelligence and Auditing: Benefits and Risks; From: Revolutionizing Business Practices Through Artificial Intelligence and Data-Rich Environments
Full Text Chapter Download: US $37.50 Add to Cart
Chapter 2
Volatility of Semiconductor Companies
Inherent risk is defined as the risk of an object without an audit. A client company are engaged in a business, and it invests its resources for the business. No one can forecast whether the investment is successful or not. The result is variant in some extent. The variance is thought to be inherent risk.
Published in Chapter: Volatility of Semiconductor Companies; From: Encyclopedia of Data Science and Machine Learning
Full Text Chapter Download: US $37.50 Add to Cart
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