| Item |
Weighted Mean |
Verbal Interpretation |
| Risk identification |
|
|
| The company has a well-documented policy on risk management |
2.98 |
N |
| The company regularly updates the risk register |
3.11 |
N |
| The company management encourages reporting of events in order to identify the risks |
3.57 |
A |
| The company has a monitoring system that identifies potential risks |
3.63 |
A |
| Risk evaluation |
|
|
| There is adequate capacity to perform risk assessment in the company |
3.29 |
N |
| The company has a risk review process after implementation of the mitigation measures/control for identification of risks |
3.33 |
N |
| The company management effectively communicate risks to the employees and the stakeholders |
3.23 |
N |
| The management adequately evaluates and records the risk when making important decisions (launch of projects or new products) |
3.44 |
A |
| Risk mitigation |
|
|
| The company has adequately implemented any inspection plans to reduce the inherent risks which are periodically revised. |
3.46 |
A |
| Their exists a risk management committee in the company |
3.22 |
N |
| Risks identified are reviewed and decisions taken on the same by a risk management committee. |
3.26 |
N |
| Recommendations by the risk management committee are reported directly to top management and the audit and risk sub-committee of the board |
3.27 |
N |
| Management uses instruments for risk transfer or sharing with other organizations |
3.02 |
N |
| Average Weighted Mean |
3.29 |
N |
