A lack of reporting when a key risk indicator (KRI) exceeds its thresholds would be of greater concern to a risk practitioner following an annual review of the risk monitoring process. KRIs are used to track and monitor the performance of risk management activities and to provide early warning of potential risk events. If KRIs exceed their thresholds, it is important that they are reported to management so that they can take appropriate action to mitigate the risk. Failure to report such incidents in a timely manner can result in increased risk exposure and the potential for negative impacts to the organization. The frequency of reporting to management may be important, but it would not be as significant a concern as a lack of reporting of key risk events.
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