In today's chat, Brett and I discuss the importance of controls in risk management - and specifically, critical controls.
These are the controls that if missing or ineffective, will almost certainly lead to the risk eventuating, or if a mitigating control, the consequences being worse than they needed to be.
Key to having a great control environment is providing assurance that the controls are in place and effective - for some critical controls, such as the Business Resilience arrangements for the organisation, this is best tested using facilitated exercises / scenarios.
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