Process risk assessment examines workflows, handoffs, decision points, and controls to identify where errors, fraud, inefficiencies, or failures might occur. The methodology typically involves process mapping, identifying risk points, assessing inherent and residual risk, and recommending control enhancements. For instance, assessing an accounts payable process might reveal risks of duplicate payments, unauthorized vendors, or missing approvals at specific workflow stages. Organizations use techniques like FMEA, process walkthroughs, and control self-assessments to evaluate process risks. Results inform process redesign, automation priorities, and control framework optimization.