The governing body exercises oversight of the provider’s risk management and seek assurances from the executive that key risks have been identified and are being effectively managed. This requires that risks are identified, their impact and likelihood assessed, and mitigation strategies adopted. To ensure there is a clear understanding of the extent to which risk is tolerated, the governing body should agree its risk appetite.
This briefing note is part of a series of downloadable summaries that have been designed to support you in addressing different aspects of governance or to be disseminated as a helpful resource to colleagues who are new to particular areas of governance. Each draws on the latest thinking and legalisation, providing a helpful guide to re-familiarise yourself with specific issues as they arise. Each briefing note offers up-to-date information, further reading, links and questions to consider on a range of governance issues.