BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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COSO
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ARMS
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ISO 31000
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IFRS
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Detailed explanation-1: -A risk management framework is a set of references and tools that decision-makers rely on to make decisions about how to manage risk. It could include, for example, policies, strategies, plans, processes and models, and statements of your organisation’s position on risk.
Detailed explanation-2: -Risk Framework (also Risk Management Framework) is the totality of Risk Policies, internal Risk Management Processes and Risk Tools used by an organization to manage the variety of risks it is facing.
Detailed explanation-3: -The Risk IT Framework fills the gap between generic risk management concepts and detailed IT risk management. It provides an end-to-end, comprehensive view of risks related to the use of IT and a similarly thorough treatment of risk management, from the tone and culture at the top, to operational issues.