What is Risk -based Vs. Objectives based Audit?

Risk based and objective based audits are not same.
(In Short) Risk Based Audit - is to check whether appropriate tools/procedures are existing at place to face identified/expected/assessed unacceptable outcome from business operations.
We also consider the recurrence/remoteness/assessment of loss if such unacceptable outcome will occur.
Example - loss of data due to fire.
(Check whether appropriate fire fighting system is existing at place) Objective Based Audit - is check whether the controls of business processes are operating as per defined procedures and policies to achieve the business objectives.
Example - No credit customer has exceeded his defined credit limit (Check whether the orders of credit customers are stopped on reaching their credit ceiling)