Why conduct a risk assessment?
Healthcare Auditing Weekly, April 29, 2008
Why bother to conduct a risk assessment? A good risk-assessment process does the following:
- Promotes sound internal controls A good risk-assessment process will help your facility’s management determine which internal controls are functioning as designed and which are not.
- Prioritizes resources A risk assessment helps focus your facility’s financial resources on high-risk areas.
- Focuses your work A risk assessment will help you focus your time on areas with the greatest risk. Although you should include less-risky areas in your work plan, make your highest risk factors a top priority.
This tip is adapted from The Healthcare Auditor’s Handbook. For more information about the book or to order your copy, visit HCMarketplace.
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