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The key target of the review stage is to monitor the changes in the risk profile and in the risk appetite of the organization and to provide assurance to all stakeholders that the risk management process is appropriate to the context, effectively and efficiently implemented.
The frequency of the review should be determined depending on the characteristics of the risk management system, to execute:
- a review of the risks, to verify the evolution of already existing risks and the arise of new risks, assessing their entity;
- a review of the risk management process, to ensure that all activities are under control and to detect changes in the structure of the process.
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