What is 3rd Party Risk Assessment?

What is 3rd Party Risk Assessment?
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Is third-party risk assessments crucial part of every third-party risk management program?
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What do the terms frequent occasional seldom and unlikely describe in the risk assessment matrix?

Description : What do the terms frequent occasional seldom and unlikely describe in the risk assessment matrix?

Last Answer : Level of probability of an adverse event occurring

A major problem in nutritional support is identifying patients at risk. Recent studies suggest that these patients can be identified. Which of the following findings identify the patient at risk? A. Weight loss of greater than 10% over 2 to 4 months. B. Serum albumin of less than 3 gm. per 100 ml. in the hydrated state. C. Malnutrition as identified by global assessment. D. Serum transferrin of less than 220 mg. per 100 ml. E. Functional impairment by history.

Description : A major problem in nutritional support is identifying patients at risk. Recent studies suggest that these patients can be identified. Which of the following findings identify the patient at risk? A. Weight ... transferrin of less than 220 mg. per 100 ml. E. Functional impairment by history.

Last Answer : Answer: ABCDE DISCUSSION: All of these are at least partially correct. It is not clear whether weight loss of 10% or 15% is the required threshold, but it certainly is close. Serum ... the hands of an experienced observer is quite a reasonable way of approaching and identifying patients at risk

Following is (are) the component(s) of risk management (A)Risk Assessment (B)Risk Control (C)Risk Ranking (D)All of the above

Description : Following is (are) the component(s) of risk management (A)Risk Assessment (B)Risk Control (C)Risk Ranking (D)All of the above

Last Answer : (D)All of the above

All of the following are true regarding the Qualitative Risk Analysis process except which one? A. Probability and impact and expert interview are used to help correct biases that occC. Qualitative Risk Analysis is an easy method of determining risk probability and impact that usually takes a good deal of time to perform. D. Risk urgency assessment is a tool and technique of this process used to determine which risks need near-term response plans.ur in the data you’ve gathered during this process. B. The probability and impact matrix is used during this process to assign red, yellow, and green conditions to risks.

Description : All of the following are true regarding the Qualitative Risk Analysis process except  which one?  A. Probability and impact and expert interview are used to help correct biases that occur  in the data ... of this process used to determine  which risks need near-term response plans.

Last Answer : C. Qualitative Risk Analysis is an easy method of determining risk probability and  impact that usually takes a good deal of time to perform.

A risk is defined as what might happened to the ____________ of the project 1. assessment 2. detriment 3. schedule 4. cost 5. scope

Description : A risk is defined as what might happened to the ____________ of the project 1. assessment  2. detriment  3. schedule  4. cost  5. scope

Last Answer : 2. detriment

What is risk assessment?

Description : What is risk assessment?

Last Answer : Risk assessment includes accident scenario identification and consequence analysis. Scenario identification describes how an accident occurs. It frequently includes an analysis of the probabilities. Consequence analysis ... of life, damage to the environment or capital equipments and day's outage. 

What is Health Risk assessment (HRA) ?

Description : What is Health Risk assessment (HRA) ?

Last Answer :  HRA -Health Risk Assessment  HRA is a process to identify evaluates and control health risk at workplace. Controlling health risk at work.  Identify health hazard & their harmful ... irritation use of PPE awareness  H2S - Inhalation -noise unconsciousness- possible-fatality

What is a risk assessment?

Description : What is a risk assessment?

Last Answer : Risk assessment is a method of estimating the rate of risk of an activity, by classifying actual and potential consequences and finding out mitigating actions to limit that risk. 

Which of the following represents a procedure that the auditor may use because plausible relationships among financial statement balances are expected to exist? a. Attributes testing b. Enterprise risk assessment c. Inherent tests of control d. Analytical review

Description : Which of the following represents a procedure that the auditor may use because plausible relationships among financial statement balances are expected to exist? a. Attributes testing b. Enterprise risk assessment c. Inherent tests of control d. Analytical review

Last Answer : Analytical review

Which of the following should the auditors normally interview as part of their assessment of fraud risk? a. Senior management b. Audit committee c. Various employees whose duties financial reporting responsibilities d. All of the given choices

Description : Which of the following should the auditors normally interview as part of their assessment of fraud risk? a. Senior management b. Audit committee c. Various employees whose duties financial reporting responsibilities d. All of the given choices

Last Answer : All of the given choices

In the preparation of an audit program, which of the following items is not essential? a. Assessment of inherent risk b. The preparation of a budget identifying the costs of resources needed c. A review of material from prior audits d. An understanding of controls established by management

Description : In the preparation of an audit program, which of the following items is not essential? a. Assessment of inherent risk b. The preparation of a budget identifying the costs of resources needed c. A review of material from prior audits d. An understanding of controls established by management

Last Answer : The preparation of a budget identifying the costs of resources needed

Auditors would normally interview all but which of the following individuals as part of their assessment of fraud risk? a. Senior management b. Audit committee c. Various employees whose duties do not include normal financial reporting responsibilities d. All of the above

Description : Auditors would normally interview all but which of the following individuals as part of their assessment of fraud risk? a. Senior management b. Audit committee c. Various employees whose duties do not include normal financial reporting responsibilities d. All of the above

Last Answer : All of the above

Which of the following conditions identified during fieldwork of an audit is most likely to affect the auditor’s assessment of the risk of misstatement due to fraud? a. Year-end adjusting journal entries. b. Checks for significant amounts outstanding at year-end. c. Missing documents. d. Computer generated documents

Description : Which of the following conditions identified during fieldwork of an audit is most likely to affect the auditor's assessment of the risk of misstatement due to fraud? a. Year-end adjusting ... for significant amounts outstanding at year-end. c. Missing documents. d. Computer generated documents

Last Answer : Missing documents

Which of the following is most likely to be a response to the auditor's assessment that the risk of material misstatement due to fraud for the existence of inventory is high? a. Observe test counts of inventory at certain locations on an unannounced basis. b. Perform analytical procedures rather than taking test counts. c. Request that inventories be counted prior to year end. d. Request that inventory counts at the various locations be counted on different dates so as to allow the same auditor to be present at every count

Description : Which of the following is most likely to be a response to the auditor's assessment that the risk of material misstatement due to fraud for the existence of inventory is high? a. Observe test counts ... be counted on different dates so as to allow the same auditor to be present at every count

Last Answer : Observe test counts of inventory at certain locations on an unannounced basis.

Which of the following statements concerning analytical procedures is true? a. Analytical procedures are more efficient, but not more effective, than tests of details of transactions. b. Analytical procedures used as risk assessment procedures use data aggregated at a high level. c. Analytical procedures can replace tests of controls in gathering audit evidence to support the assessed level of control risk. d. Analytical procedures usually involve comparisons of ratios developed from recorded amounts with ratios developed by management

Description : Which of the following statements concerning analytical procedures is true? a. Analytical procedures are more efficient, but not more effective, than tests of details of transactions. ... usually involve comparisons of ratios developed from recorded amounts with ratios developed by management

Last Answer : Analytical procedures used as risk assessment procedures use data aggregated at a high level.

Which of the following should be included in the audit plan? I. The nature, timing and extent of planned risk assessment procedures. II. The nature, timing and extent of planned further audit procedures at the assertion level. a. I only b. II only c. Both I and II d. Neither I nor II

Description : Which of the following should be included in the audit plan? I. The nature, timing and extent of planned risk assessment procedures. II. The nature, timing and extent of planned further audit procedures at the assertion level. a. I only b. II only c. Both I and II d. Neither I nor II

Last Answer : Both I and II

In the planning stage of an audit engagement, the auditor is required to perform audit procedures to obtain an understanding of the entity and its environment, including its internal control. These procedures are called a. Substantive tests b. Tests of controls c. Risk assessment procedures d. Dual-purpose tests

Description : In the planning stage of an audit engagement, the auditor is required to perform audit procedures to obtain an understanding of the entity and its environment, including its internal control. These ... a. Substantive tests b. Tests of controls c. Risk assessment procedures d. Dual-purpose tests

Last Answer : Risk assessment procedures

Risk assessment procedures include the following, except a. Analytical procedures. b. Confirmation of accounts receivablec. Observation and inspection.d. Inquiries of management

Description : Risk assessment procedures include the following, except a. Analytical procedures. b. Confirmation of accounts receivable c. Observation and inspection. d. Inquiries of management

Last Answer : Confirmation of accounts receivable

An engagement quality control review is required to be performed: a. Immediately after the re-assessment of control risk. b. At engagement completion after the report is issued. c. For all audits of financial statements of listed entitiesd. For all types of audits, regardless of the subject matter of the engagement..

Description : An engagement quality control review is required to be performed: a. Immediately after the re-assessment of control risk. b. At engagement completion after the report is issued. c. For all audits of ... listed entities. d. For all types of audits, regardless of the subject matter of the engagement.

Last Answer : For all audits of financial statements of listed entities

Which of the following is not an assurance engagement? a. Risk Assessment Service b. Information System Reliability Service c. Business Performance Measurement d. Management Consulting Service

Description : Which of the following is not an assurance engagement? a. Risk Assessment Service b. Information System Reliability Service c. Business Performance Measurement d. Management Consulting Service

Last Answer : Management Consulting Service

What are the roles of NGOs in disaster related preparedness stage? a. Public awareness and education b. Vulnerability and risk assessment c. Forming and training DNTs, introducing alternative technologies d. All of the above

Description : What are the roles of NGOs in disaster related preparedness stage? a. Public awareness and education b. Vulnerability and risk assessment c. Forming and training DNTs, introducing alternative technologies d. All of the above

Last Answer : d. All of the above

Environmental impact assessment includes (a) Environmental statement (b) Environmental management plan (c) Risk and hazard assessment and mitigation (d) All of the above

Description : Environmental impact assessment includes (a) Environmental statement (b) Environmental management plan (c) Risk and hazard assessment and mitigation (d) All of the above

Last Answer : (d) All of the above

What are the three activities of risk assessment?

Description : What are the three activities of risk assessment?

Last Answer : Ans: The three activities are identifying, analyzing and giving priorities. Risks can be identified by a check list or looking at previously identified risks. Risk analysis involves examining how ... with modification of risk input variables. Risk prioritization helps in focus on most severe risks.

In simple terms, what does risk assessment ask? a. What can go wrong? b. How likely is it to go wrong? c. What are the possible consequences if it does go wrong? d. All of the above

Description : In simple terms, what does risk assessment ask? a. What can go wrong? b. How likely is it to go wrong? c. What are the possible consequences if it does go wrong? d. All of the above

Last Answer : d. All of the above

What is the process of evaluating IT assets, their importance to the organization, and their susceptibility to threats, to measure the risk exposure of these assets? a. Risk management b. Risk assessment c. Security d. None of the above

Description : What is the process of evaluating IT assets, their importance to the organization, and their susceptibility to threats, to measure the risk exposure of these assets? a. Risk management b. Risk assessment c. Security d. None of the above

Last Answer : b. Risk assessment

What consists of the identification of risks or threats, the implementation of security measures, and the monitoring of those measures for effectiveness? a. Risk management b. Risk assessment c. Security d. None of the above

Description : What consists of the identification of risks or threats, the implementation of security measures, and the monitoring of those measures for effectiveness? a. Risk management b. Risk assessment c. Security d. None of the above

Last Answer : a. Risk management

Software safety is a ................... activity that focuses on the identification and assessment of potential hazards that may affect software negatively and cause an entire system to fail. (A) Risk mitigation, monitoring and management (B) Software quality assurance (C) Software cost estimation (D) Defect removal efficiency

Description : Software safety is a ................... activity that focuses on the identification and assessment of potential hazards that may affect software negatively and cause an entire ... monitoring and management (B) Software quality assurance (C) Software cost estimation (D) Defect removal efficiency

Last Answer : (B) Software quality assurance

Give an assessment of two-party system with examples. -SST 10th

Description : Give an assessment of two-party system with examples. -SST 10th

Last Answer : In some countries power usually changes between two major parties. Several other parties exist, contest elections and win a few seats in the legislature. But only two main parties have a serious ... of party system the winning party forms the government and the other party forms the opposition.

Do you think the stunning outcome of the 2016 election will get the non-voters and 3rd party voters galvanized into reality next year?

Description : Do you think the stunning outcome of the 2016 election will get the non-voters and 3rd party voters galvanized into reality next year?

Last Answer : The most trolliest of trolling questions I have seen in some time here. Come on.

How does one search the internet without using Google, Yahoo, Bing or a "3rd party" search engine that actually just uses Google, Yahoo or Bing?

Description : How does one search the internet without using Google, Yahoo, Bing or a "3rd party" search engine that actually just uses Google, Yahoo or Bing?

Last Answer : answer:YaCy Untraceable, decentralized, and (I think) the perfect answer to your question. Check it out :) Honorable mention to DuckDuckGo

Is it legal to download software from a 3rd party site if you intend to register and activate it using a legally purchased serial number?

Description : Is it legal to download software from a 3rd party site if you intend to register and activate it using a legally purchased serial number?

Last Answer : answer:It would be legal, because you purchase the license not the disk itself. Downloading the software in itself is not a crime, using it without a legally purchased license is.

3rd Party Mac Spell Checker?

Description : 3rd Party Mac Spell Checker?

Last Answer : Are you aware that Mac OS X has a built in auto-correct spellchecker? Right click in the text field you are typing in & from that pop-up menu, click on ‘Spelling and Grammar’ & then check off ‘Correct Spelling Automatically’. Hopefully that is what you are inquiring about.

Can you get banned from 3rd party fans on an Xbox 360?

Description : Can you get banned from 3rd party fans on an Xbox 360?

Last Answer : Why on earth would they want to ban you?

What factors should I consider in setting my hourly rate as a 3rd party consultant?

Description : What factors should I consider in setting my hourly rate as a 3rd party consultant?

Last Answer : Figure out what annual salary you'd get for the position if you were a full-time employee. Divide that by 2000 to find the hourly rate for the salaried position, then double it to take into ... local.) Then express that you're looking for 75%-125% of that number and see where they counteroffer.

Good price for a used 3rd party Nikon lens?

Description : Good price for a used 3rd party Nikon lens?

Last Answer : F2.8?

Warning! This might be a noob question... Is it possible to increase the CPU/processing power on the iPhone with a 3rd party accessory of some kind?

Description : Warning! This might be a noob question... Is it possible to increase the CPU/processing power on the iPhone with a 3rd party accessory of some kind?

Last Answer : You can’t alter hardware through software. Perhaps some sort of overclock is possible but that’s probably not recommended.

If I have status with an airline, and buy a ticket through a 3rd party site like Orbitz, will I be eligible for upgrades?

Description : If I have status with an airline, and buy a ticket through a 3rd party site like Orbitz, will I be eligible for upgrades?

Last Answer : don't think so. you could try fenagling it with delta after you bought the tickets, but the folks at orbitz, etc. tend to wash their hands of the airline policy.

Are Apple planning to sell 3rd Party iPhone/iPod Touch Apps?

Description : Are Apple planning to sell 3rd Party iPhone/iPod Touch Apps?

Last Answer : answer:Nobody knows what will happen, but one scenario is that Apple sells third-party apps through the iTunes store, with Apple taking a cut of the sale money. Presumably, most of the money will go ... , or prevent developers from giving away apps for free. But nobody knows what they're doing yet.

How are 3rd party iPhone apps different from the latest iPhone update?

Description : How are 3rd party iPhone apps different from the latest iPhone update?

Last Answer : answer:There aren’t any official 3rd party apps out yet. The firmware that allows this came out before the SDK, which developers use to write applications for the iPhone. So sit tight, you should see some stuff in a few months.

How to get 3rd party apps without jail breaking your iPod touch?

Description : How to get 3rd party apps without jail breaking your iPod touch?

Last Answer : answer:When you plug in your iPod touch to your computer with iTunes installed and providing you have internet access it will ask you if you would like to update your iPod touch for $19.99, if you update ... that isn't the route you'd like to take, your inclined to either pay or stay! Goodluck!

Favorite 3rd party app on iPhone?

Description : Favorite 3rd party app on iPhone?

Last Answer : sadly… Ask-public.

Aiyleen is having her 3rd birthday party. But she has been alive for 12 years. How is that possible? -Riddles

Description : Aiyleen is having her 3rd birthday party. But she has been alive for 12 years. How is that possible? -Riddles

Last Answer : Her birthday is on a leap year! (February 29th)

Which is the best 3rd Party API to develop a chat application?

Description : Which is the best 3rd Party API to develop a chat application?

Last Answer : I recommended you about chaport.com which is nice UI Features, which provides various for widget customization. it is free plan with ultimated chats & websites.

I am disable and collect ssi and va disability. I was also receiving 3rd party disability from Aetna?

Description : I am disable and collect ssi and va disability. I was also receiving 3rd party disability from Aetna?

Last Answer : I am disable and collect ssi and va disability. I was also receiving 3rd party disability from Aetna through my company. they quit paying me a year ago and claim I owe them 54,000.00 because I was getting ssi for my daughter.I need an attorney that can help me. My home phone 303-427-4319 please call

The type of transactions that ordinarily have a high inherent risk because they involve management judgments or assumptions are referred to as a. Estimation transactions. b. Nonroutine transactions. c. Related-party transactions. d. Routine transactions

Description : The type of transactions that ordinarily have a high inherent risk because they involve management judgments or assumptions are referred to as a. Estimation transactions. b. Nonroutine transactions. c. Related-party transactions. d. Routine transactions

Last Answer : Estimation transactions

Most auditors assess inherent risk as high for related parties and related-party transactions because a. Of the accounting disclosure requirement. b. Of the lack of independence between the parties. c. Both a and b. d. It is required by generally accepted accounting principles

Description : Most auditors assess inherent risk as high for related parties and related-party transactions because a. Of the accounting disclosure requirement. b. Of the lack of independence between the parties. c. Both a and b. d. It is required by generally accepted accounting principles

Last Answer : Both a and b

The goods are the risk of a party who has the a) ownership of goods b)possession of goods c) custody of goods d)both (b) and (c)

Description : The goods are the risk of a party who has the a) ownership of goods b)possession of goods c) custody of goods d)both (b) and (c)

Last Answer : a) ownership of goods

Compare third party insurance and comprehensive on following parameters: i. Risk cover ii. Premium iii. Application of vehicle iv. Condition

Description : Compare third party insurance and comprehensive on following parameters: i. Risk cover ii. Premium iii. Application of vehicle iv. Condition

Last Answer : i. Risk cover  In third party insurance only covers damage from a accident only to the other people and their property if you are fault.  In case of comprehensive insurance the damage ... injuries and damage to property does not cover.  In comprehensive insurance personal injuries are covered.

What is a life cycle assessment?

Description : What is a life cycle assessment?

Last Answer : A life cycle assessment is a systematic evaluation of the environmental impacts of a product, process, or service over its entire life cycle, from raw material extraction to disposal, and is an important concept in environmental science and sustainability.