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Principle 11 of King IV - Coggle Diagram
Principle 11 of King IV
Risk Governance
Governing body must oversee risk management.
Integration of risk management into strategy and operations.
Accountability
Governing body is accountable for the management of risks.
Ensuring the organization can respond to risks effectively.
Risk Management Framework
Establishment of a framework for identifying and managing risks.
Continuous monitoring and evaluation of risks.
Clear Roles & Responsibilities
Clear delegation of risk management roles.
Specific responsibilities for the governing body, management, and committees.
Risk Appetite & Tolerance
Defining and aligning risk appetite with the organization’s strategy.
Balancing risk-taking and value creation
Risk Integration
Embedding risk considerations in decision-making processes.
Ensuring risks are considered in all activities.
Continuous Improvement
Ongoing review and improvement of risk management processes.
Adaptation to new and emerging risks.
Reporting & Transparency
Clear and transparent reporting on risk management to stakeholders.
Ensuring accurate risk information is communicated to the governing body.