Discuss the controls that would reduce the risks described in above
Discuss the controls that would reduce the risks described in above
INTRODUCTION:
The process of detecting, evaluating, and managing risks to make sure they fall within the organization's risk tolerance. It is a continual process that ought to be integrated into all facets of how the corporation conducts business.
Organizations must manage a variety of hazards, and each type of risk necessitates a unique strategy. Financial, operational, reputational, and compliance risks are a few of the most prevalent risk categories. To properly identify, evaluate, and manage risks, organizations need to have a strong risk management framework in place.
The framework should be tailored to the organization's specific needs and objectives. An effective risk management process will help organizations to protect and grow their business while reducing the likelihood of a negative impact on their reputation.
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