Citation Matching
Project 36230 –
Task 1119939
| Instructions: Identify the Control, if it exists, to which the Citation should be mapped. | Task Description: Match the "Communicating with the Board ¶ 3" Citation to a Control | Authority Document URL: Website URI Document URI |
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Citation Reference: Communicating with the Board ¶ 3 Citation Guidance: Board and management continually discuss risk appetite. As part of its oversight role, the board ensures that communications regarding risk appetite remain open. It may do this by holding formal quarterly board meetings, and by calling extraordinary meetings to address specific events, such as cyber terrorism, CEO succession, or mergers. The board and management can use the risk appetite statement as a touchstone, allowing them to identify those risks that are on or off strategy, monitor the entity's risk profile, and track the effectiveness of enterprise risk management programs. Given the strong link to strategy, the risk appetite statement should be reviewed as strategy and business objectives evolve. | ||
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