Can ISO 31000:2018 be Internationally Certified?
ISO 31000:2018 (Risk Management – Guidelines) cannot be internationally certified by a Certification Body (CB). Here’s why.
ISO 31000:2018 (Risk Management – Guidelines) cannot be internationally certified by a Certification Body (CB). Here’s why.
Every time my company, Crest Advisory Africa (Pty) Ltd, are appointed to review the risk process which includes the Risk Management Framework, The Risk Management Guidelines, the various risk criteria and the risk registers, we are encountering interesting challenges.
Over the years that I was involved in Risk Management, I have been fortunate to serve on several high-level Risk and Strategy committees, from Government, Corporate, Non-Profit and most of all, Academical institutions (Various Universities).
Risk controls are one of the most common processes that needs to be assessed during a risk assessment. Crest Advisory Africa (Pty) Ltd (hereinafter CAA), has been leading Board Risk Committees, Executive Risk Committees, Departmental Risk Committees and Operational Risk committees for over 25 years and the common mistake identified is the lack of an identifiable, systematic, repeatable and valid process in determining questions to be asked during the risk assessment facilitation process.
Risk Management is an internal structure to drive the Strategic Objectives of the company it serves. Thus, the Risk Management function is the custodians of the Strategic Objectives of the company. Therefore, the Risk Management functionaries must be part of the strategic planning process of the company.
Risk management is a critical component of organizational resilience and strategic decision-making.
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