According to IIA Standards, COSO ERM, and best governance practices:
The Board of Directors holds ultimate responsibility for the oversight of the organization's risk management framework.
The board ensures that:
1. A risk management structure exists.
2. Risk appetite is defined.
3. Management's risk management efforts align with organizational objectives.
The board does not perform day-to-day risk management but ensures effective systems, policies, and controls are in place.
option B, the board of directors, is held responsible for oversight of the organization’s risk management framework according to governance principles and best practices.
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vidhya19
Highly Voted 1Â year, 3Â months agoKozy
Most Recent 4Â weeks, 1Â day agoabdullah01
1Â year ago