Understanding Inherent Risk vs Residual Risk
Автор: Compliance with Kudzai
Загружено: 2025-05-22
Просмотров: 614
Описание:
The terms inherent risk and residual risk are not quite understood by beginners in the risk management profession. Seasoned professionals sometimes ask if these concepts are still relevant in today's world. In this video I explain both these concepts to give you a good understanding, and I also share why I believe they are still very important for compliance risk assessment process.
Visit my website for information on how my firm, KC Compliance can assist you with Compliance Risk Management
www.kccompliance.co.za
Follow me on LinkedIn where I share regularly about compliance too. @kudzaichaka
0:00 - Introduction
1:30 - What is Inherent Risk
4:57 - What is Residual Risk
5:47 - Eliminating Risk
6:41 - A Business Example
9:13 - Why Residual Risk is Important
10:22 - Why Inherent Risk is Important
12:00 - Conclusion
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