Business risk

See here for marking advice about business risk https://opentuition.com/topic/audit-risk-and-business-risk You wouldn't say this to an examiner, but business risk is anything that can "cost" a business, for example: 1. Give credit terms to customers who are not creditworthy 2. Theft of inventory 3. Pay too much for goods or services Control risk is an aspect of RoMM which is considered from an auditor's perspective - business risk should be considered from management's perspective.