The growing regulatory focus on trustworthy AI systems has accelerated the need for integrated approaches to AI risk management. This paper presents a structured framework that aligns the EU AI Act’s Fundamental Rights Impact Assessment (FRIA) and the GDPR’s Data Protection Impact Assessment (DPIA) with the risk management principles and processes of ISO/IEC 42001 and ISO/IEC 23894. The aim is to support organizations in addressing legal, ethical, privacy and operational risks through unified, standards-aligned approach.It is hypothesized that embedding FRIA and DPIA procedures within ISO-compliant risk management structures can streamline compliance, strengthen governance and promote accountability and transparency. The proposed framework outlines six core phases: governance, risk identification, risk assessment, integrated impact assessment, risk treatment and monitoring and review. A dynamic feedback mechanism enables continuous improvement and adaptation to emerging risks and evolving societal expectations.By structuring these components into a coherent framework, the research supports organizations in aligning regulatory obligations with international best practices, reducing redundancy and advancing responsible, resilient AI innovation.