A pocket guide to risk mathematics: key concepts every auditor should know

A unique and indispensable pocket guide to concepts at the heart of professional risk management, this book explains the complex concepts of risk mathematics and gives auditors a confident, conceptual understanding of risk mathematics and the ability to spot mistakes a large number of which are explained and highlighted. The book introduces a series of ideas and terms about the mathematics of risk, using Plain English and keeping formulae to a minimum. A comprehensive resource of examples in the book allow the auditor to reach understanding of the main concepts behind risk maths. The ideas are grouped by topic, withtechnical areas such as probability distributions, prediction formulae, and baysian model averaging. The book offers wide coverage and deep insight becauseit leaves out symbolic detail and stays close to the issues that lead to overconfidence in risk calculations, such as purely frequentist methods, over-use of Normal distributions, Maximum Likelihood Estimation (and other best-estimate) methods, and over-fitting. Audit points specific issues to look for and ideas for and what to recommend are found throughout the book, as are opportunities to self-test knowledge gained.Matthew Leitch (Epsom, UK) is an independent consultant, trainer and researcher in risk management and audit. For 7 years until 2002 he worked for PricewaterhouseCoopers as a specialist in internal controls and risk management. He isa qualified chartered accountant and holds a BSc in psychology from University College London. He is author of Intelligent Internal Control and Risk Management, and runs the website, www.internalcontrolsdesign.co.uk. He speaks at numerous risk and audit conferences for organizations including the IIA and IIR.

• ISBN: 978-0-470-71052-4
• Editorial: John Wiley & Sons
• Encuadernacion: Rústica
• Páginas: 208
• Fecha Publicación: 16/04/2010
• Nº Volúmenes: 1
• Idioma: Inglés