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Risk frameworks - Coggle Diagram
Risk frameworks
ISO 31000
Definition of risk-ISO guide 73 states that risk if the effect of uncertainty on objectives
Recording risk assessment - Involves the identification of risks followed by evaluation or ranking
Risk classification systems -Division of risk into risk those related to financial controls, operational efficiency and commercial activates
Principles of risk management
Context of risk management
Risk aware culture
Risk management process
Risk architecture
Strategy
Protocols
Review of ISO 31000( Managing risk ISO risk based)
Managing risk based
Implement risk management
Monitor and review framework
Design of framework
Improve framework
Framework for managing risk
Achieving the benefits enterprise risk management
Risk treatment
Feedback mechanisms
Risk assessment
Enterprise risk management
Planning and designing
Scope of one initiative
Risk assessment framework
Board mandate and commitment
Enterprise risk management COSO ERM
Enterprise risk management defined -enterprise risk management is a process effected by an entity's board of directors management and personal applied
Achievement of objectives
Compliance
Strategic
Reporting
Operations
Components of enterprise risk management
Information and communication
Internal environment
Control activities
Objective setting
Risk response
Event identification
Risk assessment
Risk identification
Relationship of objectives and components
Encompasses internal control
Roles and responsibility
Limitations
Organisation of this report
Effectiveness
King IV
Governance Outcomes
Ethical culture
Good performance
Effective control
Legitimacy
Objectives of King IV
Reinforce corporate governance
Encourage transparent
Broaden the acceptance of the KIGN IV
Present corporate governance
Promote corporate governance
The underpinning philosophies of King IV
Stakeholder inclusivity
The organisation as an integral part of society
Integrated thinking
Corporate citizenship