Skip to main content

What is risk appetite?

Risk appetite is used by organisations to drive decision-making, understand the extent of controls needed to manage risks, and assess how to take advantage of opportunities.

Each year, the Queensland Audit Office (QAO) holds an in-person and live-streamed event for all our clients’ chief financial officers, finance managers, and other staff involved in financial statement preparation.

Risk management has never been more important than it is now. Today’s global risk landscape has a wide range of more complex risks that hit harder, come faster, are interlinked, and bring more profound disruptions.

One of the biggest risks when an entity engages a contractor or consultant is the outsourced project or service costing more than first anticipated.