Transcription of RISK COMMITTEE CHARTER - WBHO
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RISK COMMITTEE CHARTER - WBHO
RISK COMMITTEE . CHARTER . WBHO RISK MANAGEMENT CHARTER . 1. INTRODUCTION. Enterprise risk management deals with risks and opportunities affecting the value creation or preservation of an entity (company) and is defined as follows: Enterprise risk management is a process, effected by the board of directors, management and other personnel of an entity, applied in strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives. 1. Business decisions or events (from the external or internal environment) usually have a positive or negative impact or both on an entity. Events with negative impacts represent risks, which can destroy value creation or erode existing value. Conversely, events with a positive impacts may offset negative impacts and represents opportunities.
The purpose and the design of this Risk Charter is to emulate these principles and to give effect to the WBHO pragmatic approach to risk management.
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