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Enterprise Risk Managment- Intergrated Framework - Coggle Diagram
Enterprise Risk Managment- Intergrated Framework
There to provide value for its stakeholders
Enclose:
Enhancing risk response decisions
Reducing operational surprises and losses
Aligning risk appetite and strategy
Identifying and managing multiple and cross-enterprise risks
Seizing opportunities
Improving deployment of capital
Objectives:
Operations – effective and efficient use of its resources
Reporting – reliability of reporting
Strategic – high-level goals, aligned with and supporting its mission
Compliance – compliance with applicable laws and regulations.
How to Effectively deal with uncertainty and
associated risk and opportunity, enhancing the capacity to build value.
Maximized value when a balance between :
strategy and objectives
growth and return goals and related risk
efficiently and effectively
Definition:
Effected by people at every level of an organization
Applied in strategy setting
A process, ongoing and flowing through an entity
Applied across the enterprise, at every level and unit, and includes taking an entity level portfolio view of risk.
Able to provide reasonable assurance to an entity’s management and board of
directors
Designed to identify potential events that, if they occur, will affect the entity and to
manage risk within its risk appetite.
Geared to achievement of objectives in one or more separate but overlapping
categories
Interelated Components:
Risk Assessment
Risk Response
Event Identification
Control Activities
Objective Setting
Information and Communication
Internal Environment
Monitoring