APRA CPS 220 Risk Management
Risk Appetite

APRA CPS 220 Risk Management CPS220-06: Risk Appetite Statement

The institution must maintain an appropriate, clear and concise risk appetite statement addressing its material risks, with the Board responsible for setting risk appetite and required to approve the statement.

What else in your programme already covers this

This control maps to 8 controls across 5 other frameworks. If you already hold one of them, the evidence you collected for it is the starting point here rather than new work.

  • NIST-CSF-GV.RM-02 Risk appetite and risk tolerance statements are established, communicated, and maintained
  • NIST-CSF-ID.RA-05 Threats, vulnerabilities, likelihoods, and impacts are used to understand inherent risk and inform risk response prioritization

NIST SP 800-53 Rev 5 · 2 controls

  • NIST800-PM-28 Risk Framing. Identify and document: Assumptions affecting risk assessments, risk responses, and risk monitoring; Constraints affecting risk assessments, risk responses, and risk monitoring; Priorities and trade-offs considered by the organization for managing risk; and
  • NIST800-RA-7 Risk response

SOC 2 · 1 control

  • SOC2-CC3.1 COSO principle 6: Specifies objectives to identify and assess risks

Every mapping shown was judged rather than inferred from wording similarity, and the ones that failed review are published too. See the coverage reports and what was rejected.

Other controls in Risk Appetite

Query this from an agent

The graph holds this control, the 8 it maps to, and the evidence behind each claim, over MCP and REST.