In appreciating that success comes from creating a “risk aware” and “risk intelligent” organisation, without the right culture and leadership, Telkom could easily become risk averse and lose sight of opportunities that may exist in the market or take more risks than it can bear. The group recognises that to create a positive risk culture, it is important to have the right level of risk leadership and support. Our senior leadership (board, exco and senior management) takes overall ownership of risk management principles. The board is committed to align Telkom’s risk management to good corporate governance and best practice standards, including the Committee of Sponsoring Organisations of the Treadway Commission (COSO) framework.
Our risk management framework defines the processes for effective risk-taking. We are redefining our risk appetite framework and tolerance levels in line with the new federated operating model.
ERM governance structures
The board is responsible for overseeing risk and compliance across the group. The board’s committees monitor and advise it on matters related to risk and compliance to laws and regulations.
Our approach to risk and compliance governance
Our risk committee-approved ERM governance structure follows an integrated approach that takes into account nine principles of the Integrated Governance, Risk and Compliance (IGRC) framework for building a risk intelligent organisation.
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