Risk Analysis

Identifies and manages the risks of failing to detect a misstatement, caused by inadvertent error or fraud that is material to financial statements.

Key Behaviors
  • Identifies risks of negative outcomes (including fraud).
  • Evaluates controls that mitigate risk of negative outcomes through prevention or detection and correction.
  • Assesses and controls unmitigated risks through various methods (e.g., designing and applying tests).
  • Communicates the impact of identified risks and recommends corrective action.

Developmental opportunities for this competency are available from the NIH Training Center.

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