IRM launches risk appetite & tolerance guidance

The Institute of Risk Management (IRM) has produced a guidance paper to provide guidance to directors, risk professionals and others in relation to that part of the UK Corporate Governance Code that states that “the board is responsible for determining the nature and extent of the significant risks it is willing to take in achieving its strategic objectives”. However, the IRM hopes that the guidance will have far broader resonance with anyone interested in the subject of Risk Appetite and Risk Tolerance [including those in healthcare Ed.].

Either the executive summary or the full guidance paper Risk Appetite & Tolerance can be downloaded here.

2 Responses to IRM launches risk appetite & tolerance guidance

  1. Risk managemen and risk appetite are always living with people and their organisations! The question is who enforces risk management ,who identifies organisational risks and who understands these risks on board and management and what are the correct risks to manage? Are risks appetite profiling give an absolute focus to managing risks and which ones are not risks but something beyond risk? What then would this be called? I dont think by identifying risks are high and lows which go with just ticking the boxes without properly diognising the problems that bring such risks, plus those who enfore risks to know their source and those who endorse policies to understand them, the efforts at hand can just be a waste of yet another time. But to me it is a good idea to have risk appetite well mooted and managed.
    rgudoi@yahoo.com

  2. diet says:

    diet…

    […]IRM launches risk appetite & tolerance guidance « Healthcare Governance Review[…]…

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