control risk

  

Definition

Probability of loss arising from the tendency of internal control systems to lose their effectiveness over time, and thus expose (or fail to prevent exposure of) the assets they were instituted to protect.

Use control risk in a sentence

  • You need to understand how the control risk might effect things with your product and be able to deal with it.

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  • It was a control risk, so we decided to be careful and take things in stride, so everything went smoothly.

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  • The car rental attempted to minimize their risk by renting to a certain age group, which is a form of control risk, by renting to individuals over 18 the company minimizes the risk taken on as people under 18 are more prone to car accidents.

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