CRMA - Definition of Risk Appetite

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The concept of risk appetite is an essential aspect of the Certification in Risk Management Assurance (CRMA) certification from the Institute of Internal Auditors (IIA). It refers to the level of risk an organization is willing to accept in pursuit of its objectives. Understanding and communicating risk appetite is crucial in developing an effective risk management strategy. Internal auditors play a vital role in helping organizations define their risk appetite, aligning it with their business objectives, and ensuring that it is reflected in their risk management processes.

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