What are the five composite risk management guiding principles?

The five composite risk management guiding principles are:

1. Integrate Risk Management into the Decision-Making Process: Ensure that risk management is a fundamental part of all organizational decisions.
2. Use a Structured and Systematic Approach: Employ a consistent methodology for identifying, assessing, and managing risks.
3. Tailor the Process to Suit the Organization: Adapt risk management practices to fit the specific context and needs of the organization.
4. Involve Stakeholders: Engage relevant stakeholders in the risk management process to leverage diverse perspectives and expertise.
5. Continuously Monitor and Improve: Regularly review and update risk management practices to enhance their effectiveness and address emerging risks.