ERM Frameworks and Responses to risk [9]

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Bullet points include: Internal Environment. The tone / risk culture of the organisation Objective Setting. Needed before management can identify potential threats Event Identification. Distinguish between risks and opportunities Risk Assessment. Analyze risks, consider likelihood and impact Risk Response. Avoid, accept, reduce, share. Aligned to risk appetite Control Activities. Policies and procedures established and implemented Information and Communication. Identification, capture and communication Monitoring. Entity monitored and modified on an ongoing basis

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