Page 156 - UniZulu Annual Report 2020

UNIZULU’s risk appetite thresholds are categorised as per the table below. Action and escalation requirements have also been defined per category.
RISK THRESHOLD VALUE
LEVEL OF RISK
RISK TOLERANCE
ACTION
ESCALATION
12.1 – 25
High
Unacceptable
Management should take immediate action to reduce risk exposure to an acceptable level
Council and Audit and Risk Committee
7.1 – 12
Medium
Cautionary
Management should constantly monitor the risk exposure and related control adequacy
Executive Management
0 – 6.9
Low
Acceptable
Management may consider reducing the cost of control
Line Management
UNIZULU’s strategic risk profile (ranked by inherent rating as well as by residual rating) is provided in diagrams 17 and 18:
Diagram 17: Strategic Risk Profile (Ranked by Inherent Rating)
UNIZULU Strategic Risk Register – November 2020 (ranked by inherent rating)
25
25
25
25
25
25
20
20
15
15
13
13
13
15
10
10
1 2 3 4 5 6 7 8 9 10
Inherent Risk Ranking Rating Risidual Risk Rating
Diagram 18: Strategic Risk Profile (Ranked by Residual Rating)
UNIZULU Strategic Risk Register – November 2020 (ranked by residual rating)
10
6
8
8
25
25
25
25
25
25
20
20
15
15
13
13
13
13
12
10
10
8
8
6
1 2 3 4 5 6 7 8 9 10
Inherent Risk Ranking Rating Risidual Risk Rating
UNIVERSITY OF ZULULAND ANNUAL REPORT 2020 154