Governance
The Orange Book, Management of Risk - Principles and Concepts, Published by HM Government in 2020, sets out the main principles underlying effective risk management in all government departments and arm’s length public bodies with responsibility derived from central government for public funds.
It defines governance as: ‘….the system by which organisations are directed and controlled. It defines accountabilities, relationships and the distribution of rights and responsibilities among those who work with and in the organisation, determines the rules and procedures through which the organisation’s objectives are set, and provides the means of attaining those objectives and monitoring performance. This includes establishing, supporting and overseeing the risk management framework.’
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