The article discusses how to manage and assess risks effectively by prioritizing and treating them in an integrated way. It focuses on identifying the top 8-12 risks within an organization and using a scoring method to prioritize them. By separating risks into strategic and operational categories, the article suggests a method to establish an annual Internal Audit plan. This approach helps eliminate the need for separate risk assessments by different functions and ensures consistent evaluation of risks based on both financial and non-financial impacts. The use of a scoring method enhances the accuracy and timeliness of risk prioritization for the audit plan.