What is the amount of risk that your company is willing to accept? Before you even get to this question how does your company assess risk and subsequently evaluate that risk? In the July issue of the Compliance Week magazine, these questions were explored in an article entitled “Improving Risk Assessments and Audit Operations” in which author Tammy Whitehouse discussed the audit process and how the audit results can form the basis for the evaluation of a risk assessment. In her article Whitehouse focused on the presentation of Michele Abraham, from Timken Co., and how Timken assesses and then monitors risks it determines through its annual compliance audit.