Risk Assessment

Risk assessment helps the Office direct limited audit resources toward areas where weakness, error, non-compliance or misuse could have significant consequences. It supports annual planning, helps define individual engagements and ensures that audit attention is proportionate to identified public-sector risks.

Factors may include financial significance, previous findings, internal-control weaknesses, operational complexity, changes in systems or leadership and the nature of public resources under management. The assessment is updated when new information becomes available or conditions change.

The assessment does not assume that a weakness has occurred. It provides a documented basis for deciding what to examine, the extent of testing and evidence required, and whether specialist attention is needed to address particular financial, operational or technology-related risks.