This is a blog for the students and professionals of accounting bodies. We will discuss here briefly about the concepts of insurance , leasing and specifically about risk and risk assessment, audit , audit procedures , audit plans and audit programs. So please comment on the posts......!
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Thursday, February 3, 2011
What risk's Mean:
Risk is the potential that a chosen action or activity (including the choice of inaction) will lead to a loss (an undesirable outcome). The notion implies that a choice having an influence on the outcome exists (or existed). Potential losses themselves may also be called "risks". Almost any human endeavour carries some risk, but some are much more risky then others.
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