According to the ISACA Risk IT Framework, one of the key principles for effective risk management is to establish tone at the top and accountability. This means that senior management should set an example of ethical behavior and culture, and communicate the importance of ethics and compliance to the entire organization. Senior management should also ensure that the risk management process is aligned with the organization's mission, vision, values, and code of conduct, and that ethical risks are identified, assessed, and treated appropriately. By demonstrating ethics in their day-to-day decision making, senior management can have the greatest positive impact on ethical compliance within the risk management process, as they can influence the attitudes, behaviors, and actions of all stakeholders.
References:
*ISACA, Risk IT Framework, 2nd Edition, 2019, p. 741
*ISACA, The Role of Ethics in Risk Management2