7.08 - Revision history

Neil thibodaux at 21:52, 15 August 2026

2026-08-15T21:52:05Z

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	'''Attribute''' '''7.08''' - Management estimates the significance of the identified risks to assess their impact on achieving the defined objectives at both the entity and transaction levels. Management estimates the significance of a risk by considering the magnitude of impact, likelihood of occurrence, and nature of the risk. Magnitude of impact refers to the likely magnitude of the effect of the risk on the entity's ability to achieve its objectives. It is affected by factors such as the size, pace, and duration of the risk's impact. Likelihood of occurrence refers to the level of possibility that an unintended event or result will occur. The nature of the risk involves factors such as the degree of subjectivity involved with the risk and whether the risk arises from fraud or from complex or unusual transactions.		'''Attribute''' '''7.08''' - Management estimates the significance of the identified risks to assess their impact on achieving the defined objectives at both the entity and transaction levels. Management estimates the significance of a risk by considering the magnitude of impact, likelihood of occurrence, and nature of the risk. Magnitude of impact refers to the likely magnitude of the effect of the risk on the entity's ability to achieve its objectives. It is affected by factors such as the size, pace, and duration of the risk's impact. Likelihood of occurrence refers to the level of possibility that an unintended event or result will occur. The nature of the risk involves factors such as the degree of subjectivity involved with the risk and whether the risk arises from fraud or from complex or unusual transactions.

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Neil thibodaux: Created page with "'''Risk Assessment''' '''Principle 7 - Identify, Analyze, and Respond to Risks''' '''Attribute''' '''7.08''' - Management estimates the significance of the identified risks to assess their impact on achieving the defined objectives at both the entity and transaction levels. Management estimates the significance of a risk by considering the magnitude of impact, likelihood of occurrence, and nature of the risk. Magnitude of impact refers to the likely magnitude of the e..."

2026-08-15T21:51:22Z

Created page with "'''Risk Assessment''' '''Principle 7 - Identify, Analyze, and Respond to Risks''' '''Attribute''' '''7.08''' - Management estimates the significance of the identified risks to assess their impact on achieving the defined objectives at both the entity and transaction levels. Management estimates the significance of a risk by considering the magnitude of impact, likelihood of occurrence, and nature of the risk. Magnitude of impact refers to the likely magnitude of the e..."

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'''Risk Assessment'''

'''Principle 7 - Identify, Analyze, and Respond to Risks'''

'''Attribute''' '''7.08''' - Management estimates the significance of the identified risks to assess their impact on achieving the defined objectives at both the entity and transaction levels. Management estimates the significance of a risk by considering the magnitude of impact, likelihood of occurrence, and nature of the risk. Magnitude of impact refers to the likely magnitude of the effect of the risk on the entity's ability to achieve its objectives. It is affected by factors such as the size, pace, and duration of the risk's impact. Likelihood of occurrence refers to the level of possibility that an unintended event or result will occur. The nature of the risk involves factors such as the degree of subjectivity involved with the risk and whether the risk arises from fraud or from complex or unusual transactions.