Making Risk Appetite Statements Do The Heavy Lifting
An Enterprise Risk Management (ERM) process can yield a valuable communication for your organization: the Risk Appetite Statement. This statement serves an important assurance role for stakeholders in your company, and is an indicator of critical, board or executive-level oversight of risk management. It serves as a tangible product of an effective effort to assess and control risk across the enterprise. It can be referenced as the basis for any communication or disclosure your company may need to make about its risk management policy and efforts.