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Explaining the meaning of 'risk' to a jury in simple English

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If you are an expert witness and have to explain the meaning of 'risk' to a jury in simple English, what would you tell the jury?

Please note:The average juror has no formal accounting or finance education, so use non-technical language in your answer. See if you can avoid talking about anything complicated such as investments, which most people don't understand.

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Solution Summary

Discussion is less than a page (278 words) and explains risk and gives examples of how a forensic auditor is an expert in risk, all without using any technical words or jargon. Your grandmother would understand this.

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Risk is a fancy word for the change that something bad may happen. There is a risk the your car won't start when you try to leave today. The risk is higher on a poorly maintained high mileage car. The risk is lower on a new Toyota Camry. So, risk ranges from low (the new Camry) to high (the poorly maintained high mileage car).

The forensic auditor reviews the business ...

Solution provided by:
Carol Sargent, PhD
Education
  • BSc, University of Virginia
  • MSc, University of Virginia
  • PhD, Georgia State University
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