Good risk management means Senior Management understanding the risks that matter and building a picture where controls are weak and need enhancement. You can do this by taking both a forward- and a backward-looking view. The backward-looking view involves looking at risk incidents and near-misses that have previously occurred. If you’re having repeated incidents in a particular area, this indicates a weakness. Near-misses are often not captured. In almost every major risk incident there are warning signs that could have been heeded. The forward-looking view involves assessing the environment
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