Enterprise Risk Management (ERM) 2022

Aperçu

Enterprise risk management (ERM) includes the strategies, methods and processes used by business organizations to manage risks. ERM sets out a framework for risk management. Typically this involves identifying specific events or circumstances relating to the business organization's objectives (in terms of risks and opportunities), assessing them on the basis of their likelihood of occurrence & their magnitude of impact on the firm, determining a response strategy, and monitoring progress of the event, the response and the outcome.