Assessing the Adequacy of Risk Management using ISO 31000
The IIA issued a new practice guide on Assessing the Adequacy of Risk Management using ISO 31000. This guide details three approaches to assurance of the risk management process: a Process Elements approach; an approach based on Principles of Risk Management; and a Maturity Model approach. The assurance process that is used should be tailored to the organization’s needs.
Practice Guides are strongly recommended guidance from the Institute of Internal Auditors.