STANDARD OF RISK MANAGEMENT POLICY AND FRAMEWORK

Public sector entities are required to develop and implement a Risk Management Policy and Framework to ensure the proper functioning and integration of risk management in their operations. This policy must be approved by the Head of the entity.
Ιn accordance with Law no. 4795/2021, the National Transparency Authority shall determine the Standard of Risk Management Policy and Framework, which public sector entities must implement, adapting it to their specific characteristics and needs. This template provides guidelines and instructions for the drafting and implementation of the Policy and Framework, with the aim of ensuring uniform application of the regulation.
In this context, the standard includes mandatory provisions, such as the categorisation of risks and their rating scales, ensuring the uniform and effective application of risk management across all entities. It also sets out clear principles, defines a coherent framework and identifies the roles and responsibilities of staff, from employees to senior management, in relation to risk management.
In this way, public sector entities are equipped with the necessary tools to operate with transparency, accountability and high standards of integrity.