Risk Measurement
NAIF’s KERs are measured using a likelihood and impact matrix to determine a risk rating of low, medium, high or very high. Risks are assessed for their inherent risk exposure as well as their residual risk exposure (taking into consideration mitigating controls).
Criteria for measuring likelihood and impact have been tailored to NAIF’s purpose and include financial, reputational, legal/compliance, operational and safety considerations.
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https://www.transparency.gov.au/annual-reports/northern-australia-infrastructure-facility/reporting-year/2018-2019-32