The risk management framework is the foundation for effective risk management. The new ASX Principle 7 requires organisations to implement a sound framework and for boards to carry out annual assessments of the effectiveness of these frameworks. This means that organisations have to move on from sending reports containing 'lists of risks' to Boards, to now provide them with information on their framework and its effectiveness.
This presentation by Grant Purdy describes a risk management framework and its components and shows how companies can report to a board on the effectiveness of its approach to risk management.
View the presentation here (this link is outside Broadleaf's website).