NAME:Ahmed Mohamed Jama
Course:Principles Of Accounting
YEAR:2
SEMISTER:5
LECTURER:Ahmed mire siciid
SUBMISSION:26,2,2023
RESEARCH:Enterprise Risk Management
What is an Enterprise Risk Management
framework?
Enterprise risk management frameworks
can be defined as a connection tool that
helps in identifying, analyzing, responding
to and controlling external and internal
risks. A risk management framework
provides business units, executive
management, and board members with
structured feedback and guidance to
implement and manage enterprise risk
management software and programs
The Principles Of ERM :
The key underlying principles of ERM include:
consideration in the context of business strategy
• a focused strategy, led by the board
• active management of risk
• consideration of a broad range of risks (strategic,
financial, operational and compliance)
• Continual Improvement
creation of a risk aware culture
• a comprehensive and holistic approach
to risk management
Advantages of ERM framework
Reduces impact and loss
Stability of earnings
Awareness about the risks
Managing strategic plans
DISADVANTAGES Of ERM
Unmanaged losses:
Ambiguity
Difficulty in implementing
Potential threats
WHO NEED F**KING SELFISH