Glossary of Compliance

Compliance Glossary

Our list of curated compliance glossary offers everything you to know about compliance in one place.

Glossary » PCI DSS » Risk Assessment

Risk Assessment

A systematised procedure that involves identifying the current and potential risks, and analysing the magnitude of each risk to manage the threats accordingly. It helps take better and well-informed decisions.

Additional reading

Top GDPR Training Courses to Build Compliance Culture

TL,DR: GDPR training teaches employees how personal data should be collected, processed, stored, and protected. The article explains why GDPR responsibility sits beyond legal, compliance, and technology teams. Use it to design training around GDPR principles, security controls, data collection, and breach scenarios. Does your business deal with the personal data of prospects in the…

Audit Risk Model: Risk Types, Formula, Calculation, Score

TL;DR The Audit Risk Model (ARM) helps auditors evaluate the likelihood of errors in audits using three components: Inherent Risk (IR), Control Risk (CR), and Detection Risk (DR). The core formula is Audit Risk = IR × CR × DR, used to estimate the probability of material misstatements going undetected. Higher inherent or control risks…

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