It considers risk at the strategic level and defines the organisation’s appetite and approach to risk.
The board reviews risks, and identifies and monitors progress of the risk management plans.
The board will generally delegate these activities to a risk committee.
It considers risk at the strategic level and defines the organisation’s appetite and approach to risk.
The board is responsible for driving the risk management process and ensuring that managers responsible for implementing risk management have adequate resources.
The board will determine the level of risk which the organisation can accept in order to meet its strategic objectives.
The board ensures that the risk management strategy is communicated to the rest of the organisation and integrated with all the other activities.
The board reviews risks, and identifies and monitors progress of the risk management plans.
The board will generally delegate these activities to a risk committee, as discussed later in this chapter.
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