Factsheet - Reputation Risk

Factsheet

This is a members only resource.

Please login to access.

Author

IIA-Australia

Date

2023

Topics Explored

Risk Management

Format

Factsheet

Extract/Description

Most organisations seem to have ‘reputation risk’ as a separate risk category in their risk matrix and it often features strongly in the strategic risk register. However, the reality is that ‘reputation risk’ is not actually a separate risk category – reputation damage only occurs as a by-product of other failures. Reputation can also be enhanced by organisation success. Reputation risk is closely linked to other risks.

Key Points

1 . Reputation damage can result from a range of factors, many of which are associated with Environmental / Social / Governance.

2. Reputation risk is important because once a reputation has been damaged, it is difficult to repair.

The factsheet gives a list of high-level controls that address reputation risk.

Relevant Industries

All

Level of Assumed Knowledge

Intermediate

Aligned to Global Internal Audit Standards

No