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Risk management
Risk management

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3.3 Risk framework

Assurance here takes the form of coverage – whether the risk framework covers the entire organisation, whether it addresses all of the areas of risk and whether all the elements of risk framework are present (see the diagram in Video 5, Session 2 [Tip: hold Ctrl and click a link to open it in a new tab. (Hide tip)] ).

Assurance over the risk framework can often be overlooked but is very important. Assurance is often conducted by the third line of defence and looks at both the design of the framework as well as its implementation.