RISK APPETITE ( COSO)
Risk appetite is the amount of risk that an organization is willing to accept in pursuit of its objectives.
It is a critical component of enterprise risk management (ERM), as it helps organizations to make informed decisions about how to manage risk.
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) defines risk appetite as ”the amount and type of risk that an organization is willing to accept in pursuit of its objectives.”
COSO also distinguishes between risk appetite and risk tolerance. Risk tolerance is the amount of risk that an organization is willing to accept before taking action to mitigate it.
In a changing world, organizations need to be able to adapt and evolve quickly. This means being able to take risks, but also being able to manage those risks effectively. Risk appetite can help organizations to do this by providing a framework for making decisions about risk.
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