Risk Management INTRODUCTION 1 MAIN BODY1 International & Australian Risk Management Standards and Their Purposes1 Legislative and regulatory Context of Organization 3 Organizational policies, Procedures and Processes of Risk Management3 Areas of risk in an organisation 4 Organisation's auditing requirement relating to risk management 5 Techniques for identifying and evaluating Risks 7 CONCLUSION 8 REFERENCES 9 INTRODUCTION Risk management can be considered as identification, evaluation and prioritisation of risk that is followed by coordination and economical application of various resources to minimise,