197. The risk management committee’s responsibility should be clearly set out in its terms of reference, which must deal with the scope of its mandate, its composition, roles and duties and include provisions to the effect that – (a) the risk management committee comprises executive and non-executive directors, with the latter being in the majority, […]

194. The Board should – (a) determine the levels of risk tolerance and the nature and extent of significant risks it is willing to embrace in achieving its strategic objectives; (b) determine whether or not it is desirable to establish a risk management committee to assist it in carrying out its risk related responsibilities or […]

190. The Board must ensure that – (a) risk assessments are performed on a continuous basis; (b) a framework or methodology is established to increase the likelihood of anticipating unpredictable risks; (c) management considers and implements appropriate risk responses; and (d) risk monitoring is carried out continuously by the risk committee and management. 191. The […]