Which of the following is NOT a component of the Cannabis Risk Management Framework?

The correct identification of the component that is not part of the Cannabis Risk Management Framework is significant in understanding how risk is managed within the cannabis industry. The Cannabis Risk Management Framework typically includes components that focus on ensuring compliance, maintaining effective control processes, and managing risks associated with cannabis operations.

The framework emphasizes Assurance, which relates to the accountability and performance evaluation of risk management practices. This component ensures that risks are continuously monitored and that management is held accountable for the effectiveness of their risk management strategies.

The Internal Control Environment is another crucial element, as it involves the organizational structure, culture, and policies that support the integrity of operations. This environment sets the tone for the way risk management is approached and how controls are implemented throughout the organization.

Control Activities are the specific actions and policies that are executed to mitigate risks identified through the risk assessment process. They are essential for ensuring that risks are effectively controlled and managed in daily operations.

In contrast, while External Partnerships can be beneficial for supporting various aspects of a business, they do not constitute a core component of the Cannabis Risk Management Framework. Such partnerships may involve collaborations with other organizations, stakeholders, or industry experts, but they do not directly relate to the internal components of risk management as defined in the framework. Therefore, understanding