Professional Documents
Culture Documents
Establishment of risk appetite which measure the board collective acceptance of risk
Existence of RM system
Ongoing basis – proactive
3) Monitoring
Existence of IA
Follow up procedures after release of IA report
Whether the company has a policy that require immediate reporting of certain matters of significance so
that prompt actions can be taken
Timeliness of reporting of info (timely and relevant)
Quality of info – objective? Accurate? (reliable reports)
Format of reporting – balanced and understandable account – allow mgnt ustand the issue
Existence /Establishment of whistle blowing arrangement – channels of communication