Our Risk Assessment Questionnaire is designed to help organizations collect responses for risk assessment as preparation for annual budgeting and business planning efforts. Within this tool, you will find a risk assessment questionnaire with instructions for completion. It also provides additional information and reference materials, including a risk model, rating guidance, environmental risk definitions, process risk definitions and information risk definitions. It includes functional goals, top three to five risks in functional areas, companywide top three to five risks and quantitative risk ratings.

This risk-based approach is focused on surveys/interviews of a cross-section of management personnel to solicit input from the potential “customers” of an internal audit function. The internal audit team should interview a select group of surveyed individuals to discuss their opinions on company risk areas and their views on internal audit.

Sample questions include:

• Are there any areas that concern you and/or cause problems or backlogs?
• What are your key expectations of internal audit?
• Where do you believe the greatest exposure for loss exists?