In his lecture on risk management and strategy, Hopkin discussed the components...
In his lecture on risk management and strategy, Hopkin discussed the components of risk assurance - control environment, risk assessment, control activities, monitoring and review, and certification - and outlined the Risk Assurance Management Standard (RAMS). He said that the purpose of implementing the RAMS is to provide reasonable assurance that an appropriate level of control is achieved with respect to the significant risks faced by the organisation. "This will help the organisation achieve its mission and strategy."
Among his conclusions were: business strategy starts the business cycle; control environment, risk assessment and control activities are most relevant to strategy, and risk to strategy must be managed in context.
