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Inherent risk
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<h2 id="see-also">See also</h2> <ul><li><a href="/facts/Inherent_risk_(accounting)/Vgr7dHQV">Inherent risk (accounting)</a>, particularly, the consideration of the probability of material misstatements in financial records</li></ul> <h2 id="references">References</h2> <ol> <li id="fn:1"><p>Gregory Monahan (2008). Enterprise Risk Management: A Methodology for Achieving Strategic Objectives. John Wiley & Sons. ISBN 9780470372333. <a href="9780470372333" target="_blank">9780470372333</a> <a href="#fnref:1" class="footnote-back-ref">↩</a></p></li> <li id="fn:2"><p>Rachel Slabotsky (7 September 2017). "Inherent Risk vs. Residual Risk Explained in 90 Seconds". www.fairinstitute.org. FAIR Institute. Retrieved 10 October 2018. Inherent risk represents the amount of risk that exists in the absence of controls. <a href="https://www.fairinstitute.org/blog/inherent-risk-vs.-residual-risk-explained-in-90-seconds" target="_blank">https://www.fairinstitute.org/blog/inherent-risk-vs.-residual-risk-explained-in-90-seconds</a> <a href="#fnref:2" class="footnote-back-ref">↩</a></p></li> <li id="fn:3"><p>Rachel Slabotsky (7 September 2017). "Inherent Risk vs. Residual Risk Explained in 90 Seconds". www.fairinstitute.org. FAIR Institute. Retrieved 10 October 2018. Inherent risk is current risk level given the existing set of controls rather than the hypothetical notion of an absence of any controls. <a href="https://www.fairinstitute.org/blog/inherent-risk-vs.-residual-risk-explained-in-90-seconds" target="_blank">https://www.fairinstitute.org/blog/inherent-risk-vs.-residual-risk-explained-in-90-seconds</a> <a href="#fnref:3" class="footnote-back-ref">↩</a></p></li> <li id="fn:4"><p>Jack Jones. Measuring and Managing Information Risk: A FAIR Approach. FAIR Institute. <a href="#fnref:4" class="footnote-back-ref">↩</a></p></li> <li id="fn:5"><p>"Understanding Inherent Risk: Examples, Management, and Implications". www.tookitaki.com. 15 March 2024. Retrieved 25 June 2024. <a href="https://www.tookitaki.com/glossary/inherent-risk" target="_blank">https://www.tookitaki.com/glossary/inherent-risk</a> <a href="#fnref:5" class="footnote-back-ref">↩</a></p></li> <li id="fn:6"><p>"Financial Risk". quickonomics.com. 22 March 2024. Retrieved 25 June 2024. <a href="https://quickonomics.com/terms/financial-risk/" target="_blank">https://quickonomics.com/terms/financial-risk/</a> <a href="#fnref:6" class="footnote-back-ref">↩</a></p></li> </ol>