Risk is a concept that denotes a potential negative impact to an asset or some characteristic of value that may arise from some present process or future event.In everyday usage, risk is often used synonymously with the probability of a known loss.Paradoxically, a probable loss can be uncertain and relative in an individual event while having a certainty in the aggregate of multiple events (see risk vs. uncertainty below). Risk is the possibility of an event occurring that will have an impact on the achievement of objectives. Risk is measured in terms of impact and likelihood.http://www.theiia.org/guidance/standards-and-practices/professional-practices-framework/standards/standards-for-the-professional-practice-of-internal-auditing/?search=glossary&C=816&I=2343 Risk communication and risk perception are essential factors for all human decision making. Definitions of risk There are many mor

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