HB 254-2005

1 - HB 254-2005 GOVERNANCE, RISK MANAGEMENT AND CONTROL ASSURANCE
13 - 1 Introduction
14 - 1.1 Corporate Governance
16 - 1.2 Governance Frameworks and Management Practices
17 - 1.3 Governance, Risk Management and Control
19 - 1.4 Definitions
19 - 1.4.1 Assurance
19 - 1.4.2 Assurance focus
20 - 1.4.3 Control
20 - 1.4.4 Control activities
20 - 1.4.5 Control criteria
20 - 1.4.6 Control elements
20 - 1.4.7 Formal control
20 - 1.4.8 Inherent control
20 - 1.4.9 Organisation
20 - 1.4.10 Organisational objectives
20 - 1.4.11 Risk management
22 - 2 Key benefits to the board
24 - 3 Risk management and this risk management process
24 - 3.1 What is Risk?
25 - 3.2 What is Risk Management?
25 - 3.3 The Risk Management Process
25 - 3.3.1 General
26 - 3.3.2 Communuicate and consult
27 - 3.3.3 Establish the context
27 - 3.3.4 Indentify risks
28 - 3.3.5 Analyse risks
28 - 3.3.6 Evaluate risks
29 - 3.3.7 Treat risks
30 - 3.3.8 Monitor and review risks
30 - 3.4 Implementing a risk management framework
30 - 3.4.1 General
31 - 3.4.2 Initial implementation phase
33 - 3.4.3 Ongoing implementation phase
34 - 4 Control assurance plan
34 - 4.1 General
36 - 4.2 Assurance control elements
38 - 4.3 Control criteria
38 - 4.3.1 General
38 - 4.3.2 Criterion 1-Purpose
39 - 4.3.3 Criteria 2 & 3-Capability & Commitment
40 - 4.3.4 Criterion 4-Monitoring and Learning
41 - 4.3.5 Criterion 5-Information
41 - 4.4 Inherent control assurance
41 - 4.4.1 General
42 - 4.4.2 Systems thinking
42 - 4.4.3 Learning organisation
43 - 4.4.4 Trust and relationships
43 - 4.4.5 Competencies
44 - 5 Implementation-How effective control can provide assurance to the board
44 - 5.1 Application of the Control Criteria
44 - 5.1.1 General
45 - 5.1.2 Control Element 1-The Board
46 - 5.1.3 Control Element 2-Organisation
48 - 5.1.4 Control Element 3-Management Assurance
50 - 5.1.5 Control Element 4-Independment Assurance
54 - 5.2 Medium to Small Organisations
56 - 6 Managing change

Provides guidelines on the implementation of a Control Assurance Plan, with an understanding of the relationship between governance frameworks and management practices. It emphasises the linkage between governance, risk management and control. Although the handbook is primarily designed for the private sector it can be applied across all sectors with minimal modification.

Originated as HB 254 2003.
Third edition 2005.