QA NT Flashcards
WSL History of Risk
RASP - ARC Roles and Responsibilities
How long does it take to establish ERM - WSL, Council, AT?
Executive & Non Executive Directors
GM RQA. Why not Resilience?
Why ARC is not separated to Audit and Risk? The argument combining turns org into two line of defense model
Risk Appetite
What are the significant risks the
board is willing to take? What are the
significant risks the board is not willing
to take?
2 What are the strategic objectives of
the organisation? Are they clear?
What is explicit and what is implicit
in those objectives?
3 Is the board clear about the nature
and extent of the significant risks it is
willing to take in achieving its strategic
objectives?
4 Does the board need to establish clearer
governance over the risk appetite and
tolerance of the organisation?
5 What steps has the board taken to
ensure oversight over the management
of the risks?
Is management incentivised for good
risk management?
10 How much does the organisation
spend on risk management each year?
How much does it need to spend?
11 How mature is risk management in the
organisation? Is the view consistent at
differing levels of the organisation?
Is the answer to these questions based
on evidence or speculation?
What is the evidence that the
organisation has implemented
the risk appetite effectively?
Permacrisis Collins defines it as “an extended period of instability and insecurity
Risk Levels for Auditors, HS and RM
RisOLVE Controls - Inherent to Current or Current to Target? Control 1 and Control 2?
Consequences vs Impact
How risk appetite was design? What was the process?
