Risk Matrix and Assurance Ratings 2023/24
360 Assurance assesses risks using the standard 5×5 risk matrix below. The risk score is determined by consideration of the impact the risk may have and its likelihood of occurrence, in relation to the system’s objectives. The two scores are then multiplied in order to identify the risk classification of low, medium, high or extreme.
Individual Assignment Opinion Ratings
Our audit opinions are determined in relation to the objectives of the system being reviewed. It takes into consideration the volume and classification of the risks identified during the review.