Risk assessment engagements are conducted as part of an entity’s risk management plan and vary widely based on the nature of the entity and the desired outcome of each engagement. Risk management, as defined in International Organization for Standardization (ISO) Standard 31000, Risk Management — Principles and Guidelines, is a process involving the identification, assessment, and prioritization of risks. It is important for entities to understand the risks that exist in their processes and activities, because risk often plays a part in strategic decision making. This course provides the practitioner with the general guidance necessary for understanding engagement objectives in a risk assessment engagement, and for effectively and efficiently performing key engagement activities and procedures. Upon completion of this course, you will be able to: explain consulting engagement objectives; identify preliminary engagement activities; identify the types of risk assessment techniques; and list the primary objectives of the review of engagement work.