Webinar sheds light on risk management

Doha: Zach le Roux, a well-known trainer from South Africa, conducted a webinar for the Institute of Internal Auditors Doha Chapter. The training was on risk management with the topic titled “Problems and solutions to measuring likelihood.” Zach is an Internal Audit practitioner who dedicated decades to research on internal audit. He is one of the regular trainers in the IIA conventions globally. 

“The risk management terminology ‘Likelihood’ or “how often” – means the probability of the risk occurring over a defined time frame. The key learnings were Current Day challenges, Measuring likelihood and reliability, and Solutions and alternatives. The talk explored the problems with measuring likelihood and suggested and alternative avenues. It is a remarkable value add for day-to-day internal audit fieldwork,” stated Sundaresan Rajeswar, the IIA Chapter board member.

Zach believes that accurate risk measurements lie at the heart of good management decisions. Management should prioritize their energy and resources on areas based on their measured risk. But various problems with the current measuring approaches exist.