IIA-Australia Factsheet - Reputation Risk

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