Describe the role of risk assessment in security auditing processes.

Risk assessment in security auditing identifies, analyzes, and evaluates potential threats and vulnerabilities to determine their impact on organizational objectives. It provides the foundation for prioritizing security controls, allocating resources effectively, and making informed decisions about risk treatment. The process involves asset identification, threat modeling, vulnerability assessment, and impact analysis. Results guide audit scope, control testing priorities, and help organizations understand their risk exposure to make appropriate security investments and policy decisions.