This guidance describe current «best practices» for risk management functions regardless of industry, regulations and size of the business. The guidelines does not cover any legal requirements, but gives an introduction to basic principles of the function. Individual adjustments of the risk management function will include: depending on the nature, size, complexity and organizational culture of the enterprise.
The guidance also seeks to provide some clarifications and delimitations regarding the organization of a risk management function. This includes the division of tasks and roles between different control functions in the business, such as internal auditor, risk management function and compliance function.
Please Note: This product is withdrawn as of 20.12.2024, as the original in Norwegian is being replaced by an updated version from January 2025. An English translation of the new guidance can be expected within the first half of 2025.
