Question

Question 5 (1 point)

The likelihood of identified fraud risks is based on all but which of these factors?

Question 5 options:

	Prevalence of similar risks in the industry.
	The number of people involved in the transaction or area.
	Whether there is data about complaints or errors.
	Underperforming areas

Question 6 (3 points)

What is a heat map and how does it help the organization address fraud risk?

Question 6 options:

Answer 1

(5) Option A is correct as option B is not true because there can nothing be said when there are more number of persons are operating in a task, there could be more persons needed to complete that task. Option C is not true as there would always be complaints or errors when something is at operational. Option D is not correct as there are always time when the saturation point of a task comes, it does not mean they will fraud in the future.

(6) A risk map, also known as a risk heat map, is a data visualization tool for communicating specific risks an organization faces. A risk map helps companies identify and prioritize the risks associated with their business. The goal of a risk map is to improve an organization's understanding of its risk profile by providing a two dimensional graph which is shown below:

A risk map offers a visualized, comprehensive view of the likelihood and impact of an organization's risks. This helps the organization improve risk management and risk governance by prioritizing risk management efforts. This risk prioritization enables them to focus time and money on the most potentially damaging risks identified in a heat map chart. The map can help the company visualize how risks in one part of the organization can affect operations of another business unit within the organization.