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RISK FRAMEWORKS, ISO 31 000, COSO ERM, KING IV, Organisational Ethics,…
RISK FRAMEWORKS
ERM components
risk assessment
risk response
internal and external event identification
control activities
objective setting
information and communication
monitoring and modifications
internal environment and tone of organisation
Enhance risk response decisions
risk reduction
risk sharing
risk acceptance
risk avoidance
Seize opportunities
consider potential events
Reduce operational surprises and losses
Identify and manage multiple and cross-enterprise risks
Aligning risk appetite and strategy to manage risk
Improve deployment of capital
ERM Definition
basis for application
achievement of objectives established by entity
concepts to manage risk
basis to define erm effectiveness
Disclosure
key focus areas
planned future focus
monitoring outcomes
overview of arrangements
codes of conduct / ethics policies
interaction with internal and external stakeholders
organisation's ethical risks
familiarise employees and stakeholders
publish on website/other platforms
incorporate in supplier and employee contracts / include in induction and training programs
Ethics Management
recruitment, performance evaluation, employee reward
breached ethical standards
sanctions and remedies
disclosure / whistle blowing mechanisms
adherence to standards
periodic independent assessments
risk management components
Mandate and Commitment
Implement Risk Management
Implement Risk Management Framework
Implement Framework
Monitor and Review Framework
Design of Framework
Risk management policy
Organisation and Context
Improve Framework
Risk Assessment
2 Risk Analysis
3 Risk Evaluation
1 Risk Identification
4 Risk Treatment
ISO 31 000
COSO ERM
KING IV
Organisational Ethics
Communication and Consultation
Monitoring and Review
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Zeenat Hassim 200670011