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Risk Management Standards

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A-Levels 1. Introduction to Risk Management Mind Map on Risk Management Standards, created by helen_woolford on 06/05/2013.
helen_woolford
Mind Map by helen_woolford, updated more than 1 year ago
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Created by helen_woolford over 11 years ago
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Resource summary

Risk Management Standards
  1. Scope of RM Standards
    1. ISO 31000
      1. IRM
        1. COSO ERM
          1. CoCo
      2. Overall approach to RM
        1. + description of RM process and Framework
        2. 3 approaches: "Risk Management" Internal Control" "risk-Aware culture"
        3. Risk Management Framework
          1. RASP
            1. describes and defines context
              1. Supports RM process
                1. communication and flow of informaiton
              2. COSO ERM frmaeowkr
                1. RM and internal control
                  1. Multidirectional , interactive process
                    1. Geared to achieve corporate objectives- strategic, operations, reporting and compliance
                    2. ISO 31000 RM process
                      1. Establish context
                        1. Risk assessment
                          1. risk treatment
                            1. communication and consultation
                              1. monitoring and review
                              2. Alternative approach
                                1. CoCo- Criteria of control
                                  1. Risk culture most important consideration
                                    1. Purpose, vision & mission
                                      1. Commitment to integrity and ethical values
                                        1. Capability, authority and responsibilties
                                          1. Learning and development of competence
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