Risk Matrix and Assurance Ratings

360 Assurance assess risks using the standard 5×5 risk matrix below. The score has been 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 have then been multiplied in order to identify the risk classification of low, medium, high or extreme.

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.

Definitions of assurance levels