This report provides a detailed analysis of information assurance and risk management, focusing on Sirius Cybernetics Corporation, a research and development company. The report begins with an introduction to risk management, its principles, and classifications, followed by an examination of the five principles of information assurance: availability, integrity, confidentiality, authentication, and non-repudiation. It further explores the principles of risk management, including integration, structure, and customization, highlighting their importance in effective risk mitigation. The report then discusses information assurance from managerial, organizational, and technical perspectives, emphasizing the alignment of organizational goals with risk management strategies. It covers the identification and evaluation of information assurance and risk management issues from both theoretical and practical standpoints, including research issues and the scope of risk management within the organization. The report concludes with an overview of the company's operations, risk management initiatives, and the overall scope of risk management practices, providing a comprehensive understanding of the subject.