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Dictionary by pitch.dog
Enterprise risk & controls · Core

Risk

Also called: business risk

ELI5

The effect of uncertainty on objectives, expressed through possible events and consequences.

Used in conversation

“Add risk to the risk register with an owner and mitigation.”

Pitch context

You will see “Risk” in board papers, contracts, policies, risk registers and compliance reports when the discussion reaches enterprise risk & controls.

Why it matters: In enterprise risk & controls, a loose definition can change rights, obligations, approval, disclosure or enforceability.

Caution

Meaning, enforceability and required process vary by jurisdiction and agreement; this definition is not legal advice.

When the words have to travel

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Sources & evidence · 3

Direct term-level sources and supporting source families.