is responsible for implementing the processes to assess, monitor and report risk exposures and ensuring effectiveness of internal controls, taking appropriate and timely action as required. The following Management Committees are in place to implement and execute the Group’s risk management and internal control systems for the achievement of short- and long-term business objectives. Group Executive Management Committee Information & Communication Technology Governance Committee Group People Committee Regulatory Council Group Management Tender Committee TNB Sustainability and Energy Transition Council Green Lane Tender Committee Electric Vehicle Council Commodity Procurement Executive Committee Technology Council Investment Executive Committee Smart Meter Council Energy Supply Committee Health, Safety and Environment Council Integrity Council TENAGA NASIONAL BERHAD Integrated Annual Report 2023 184 STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL RISK MANAGEMENT Risk Management Framework Riskmanagement in TNB is governed by the TNB Risk Management Framework, which adopts the principles and guidelines set out in ISO 31000:2018, ‘Risk Management - Guidelines’. This framework provides a structured and consistent approach for risk management implementation across the Group. The purpose of risk management is to create and protect value and this is exemplified through each element in the TNB Risk Management Framework. The framework has been approved by the BRC/BSRC and is reviewed annually. The implementation of the TNB Risk Management Framework is documented through six risk governance documents, which are the TNB Risk Management Framework, TNB Risk Management Policy, TNB Risk Assessment Process, Risk Review, Risk Report and Key Risk Indicator (KRI). TNB Risk Governance Documents The TNB Risk Management Framework document describes the criteria and frequency of revision of these risk governance documents and the levels of approving authority to ensure the documents are robust, practical for implementation and