Risk Event
What is Risk Event?
An occurrence or change in circumstances that has a negative impact on the achievement of organizational objectives.
Frameworks that govern risk event
What the standards actually require on risk event
Requirements naming risk event across 6 standards, quoted from the control text.
Monitoring and review of legal risk management includes staying abreast of environmental change such as new laws and their enforcement to adjust strategy;
iso-31022-2020::5.5.3 · Monitoring and review →When a risk materialises the enterprise responds promptly with effective measures that keep the size of the loss down. Plans are prepared, kept current and tested that set out exactly what to do if a risk event could trigger an incident in operations or develo...
cobit-2019::APO12.06 · APO12.06 Respond to risk →The organization should run and update a formal documented process for identifying, analysing and evaluating risk that: identifies risks from deliberate and accidental threats that could affect, directly or indirectly, its assets, operations, activities, funct...
ansi-asis-pap-1-2012-physical-asset-protection::A.4.2 · A.4.2 A formal, documented risk assessment process kept up to date →The entity must keep a complete, current assessment of its operational risk profile. To support that it must: (a) run adequate information systems that monitor operational risk, gather and analyse risk data and support reporting upward to senior management and...
apra-cps-230-operational-risk-management::26 · Para 26 Maintain a comprehensive operational risk profile assessment →Cyber security is governed and systems are protected. Foundational: the organisation has a defined, written cyber security strategy; the IT systems on which Important Business Services depend are identified and shielded from cyber risk;
lloyd-s-minimum-standards-cyber-security::P12.3.3 · 12.3.3 Cyber governance, protection and identification →The FI should institute a process to assess and monitor the design and operating effectiveness of IT controls against identified risks;
monetary-authority-of-singapore-technology-risk-management-guidelines::4.5 · 4.5 Risk Monitoring, Review and Reporting →Questions people ask about risk event
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