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3 Risk Frameworks - Coggle Diagram
3 Risk Frameworks
COSO ERM
Objectives:
- Stategic
- Operations
- Reporting
- Compliance
-
8 Components
- internal environment
- risk assessment
- information and communication
- monitoring activities
- control activities
- objective setting
- event identification
- risk assessment
King IV
Capital Areas
1.Financial
- Manufactured
- Intellectual
- Human
- Social and relational
- Natural
Focused on:
Ethical Leadership, Attitude, mindset and behaviour.
The focus is on Transparency and targeted, well-considered disclosures
4 Governance outcomes
- An ethical culture
- Good performance
- effective control
- legitimacy
ISO 31 000
Framework
- Leardership
- Integration
- Design
- Implementation
- Evaluation
- Improvement
8 Core Principles
- Inclusive
- Dynamic
- .Best available information
- Human and cultural factors
- Continuous improvement
- Integration
- Structured and comprehensive
- Customized