Governance
Integrated risk management is part of good governance implying that transparency and accountability before stakeholders and responsible running of an organisation is underpinned by a robust risk management framework.
Strategy
Strategic planning is build upon understanding of the risk landscape and organisation's risk appetite and tolerance. Risk assessment and response guides strategic decisions and impacts the strategic objectives.
Performance
Risk can affect the ability of an organisation to achieve its targets and performance. Integrating risk management into business processes creates a link between strategy, objectives, risks and opportunities.
Internal control
Internal control helps the management understand the risks that could prevent it from achieving its objectives and manage them in a cost effective way to pave the way for pursuit of performance targets.