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In this risk-based inspection presentation, Paul Sheriff, a chartered engineer with over 25 years of experience in UK commerce sites and API 580 certified, discusses how to define the master asset list. The presentation emphasizes that not all countries recognize risk-based inspection (RBI), highlighting that Brazil does not acknowledge RBI and follows a local regulation, NR13, specifying minimum inspection intervals. In Europe, RBI is permitted only if the decision-making process is justified and documented for regulators. Additionally, while RBI can be applied in various regions, there are often restrictions on the time intervals between inspections.