CAF-7 · Chapter 10 · Question 12 of 15
In a structured organizational risk management framework, who holds the ultimate responsibility for setting the overall 'risk appetite' and ensuring a risk-aware culture?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) The Higher Management and Board of Directors
Explanation
Establishing the tone at the top, defining the organization's risk appetite, and ensuring risk awareness dialogue are fundamental responsibilities of the Board of Directors and senior management.
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