What type of risks does "TLARMOS" refer to?

The term "TLARMOS" refers to a broad category of non-financial risks that organizations may face. This acronym encompasses various types of risks that do not directly relate to financial operations but are still critical for the overall functioning and sustainability of an organization. These can include legal risks, reputational risks, regulatory risks, environmental risks, and other operational issues that can impact the business.

By focusing on non-financial risks, organizations can identify and mitigate factors that, while not financial in nature, might still lead to significant consequences, whether it's through loss of customer trust, legal penalties, or damage to reputation. Understanding non-financial risks is vital because they can affect an organization's financial performance indirectly by influencing its operational capabilities and strategic positioning in the market. Addressing and managing these risks ensures that the organization maintains resilience and adaptability in the face of a variety of challenges.