QuestionQ833

Risk Response and Reporting

What is the PRIMARY reason for ensuring that policies and standards are properly documented as part of the risk management process?

  • A It facilitates the use of a framework for risk management
  • B It encourages risk-based decision making for stakeholders.
  • C It establishes a means for senior management to formally approve risk practices.
  • D It provides a basis for benchmarking against industry standards.
Explanation

Properly documented policies and standards establish the consistent framework that defines how risk management is performed, applied, and governed throughout an organization.

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