Contents
Latest on risk management
ICAEW and CIPFA call for full use of IFRS 9 on pooled investments
- Article
- 24 Oct 2022
CIPFA and ICAEW call for the full application of IFRS 9 to pooled investments as soon as possible to improve the transparency of reporting.
Businesses face perfect storm of risks
- Article
- 10 Oct 2022
Cybersecurity tops annual business risk survey, reflecting the rapidly weaponised cyber attack landscape, as geopolitical uncertainty rises.
Uncertainty propels corporate governance up board agenda
- Article
- 27 Sep 2022
Ongoing economic disruption requires boards to sound out the business and help manage risk by asking the right questions at the right time.
ISQM: Recommended resources and tips - Dec 15 deadline
- Article
- 05 Sep 2022
Time is ticking to when ISQM 1 comes into effect on 15 December 2022 – the Audit & Assurance Faculty offers tips and recommended reading for very small practices.
What more can auditors do to tackle fraud?
- Article
- 25 Jul 2022
The role of the auditor has been called into question as never before. ICAEW’s new publication highlights how audit firms are rising to the challenge and considers what more they can do to fight fraud.
Updated strategic report guidance has climate change in its sights
- Article
- 28 Jun 2022
New guidance from the FRC helps preparers incorporate new climate-related financial disclosures into their strategic report.
Ukraine crisis highlights need for scenario planning
- Article
- 24 Mar 2022
Uncertainty in business is rife – no more so than at the moment. But having formalised risk management processes in place allow you to better respond to changing circumstances.
Sustainability to be at the heart of corporate reporting in the transition to net zero
- Article
- 20 Jan 2022
Themed on sustainability reporting, the Financial Reporting Faculty’s January edition of its highly acclaimed magazine 'By All Accounts' features a practical guide on implementing TCFD recommendations, accounting for climate under FRS 102 and risk reporting. Normally exclusive to faculty members, a digital version of this special edition is accessible to all ICAEW members and members of ICAEW’s Sustainability and Climate Change Community.
Topics in depth
Managing supply chain disruption
Articles and guides to help you plan for potential supply chain disruptions.
Reports
Special Report 70 - Business resilience
- Report
- 2021
Business resilience is a skill not easily learned or acquired, but so vital to the survival and overall success of your business. Use your guide to ensure you have all the right tools in your armoury to succeed in such uncertain times.
How reverse stress testing could help enhance your going concern and risk assessments
- Helpsheets and support
- 2020
This guide, created by the Financial Reporting Faculty and Audit and Assurance Faculty explains what reverse stress testing is, and how it can be a useful tool for identifying gaps in risk management and vulnerabilities in business models.
How to audit change
- Report
- 2019
Change is a feature of doing business, but managing it successfully can be complex. This guide outlines how internal audit can help project managers implement changes by adopting good practices throughout the project life cycle.
Setting priorities to establish and expand internal audit
- Report
- 2019
This guide considers seven challenges commonly faced by smaller internal audit functions and provides recommendations to help heads of internal audit establish and grow an effective function that can meet its priorities.
How to audit the cloud
- Report
- 2018
Cloud computing is transforming business IT services, but it also poses significant risks that need to be planned for. This practical guide for internal audits outlines how they should assess risk management.
How do you audit a robot?
- Helpsheets and support
- 2018
Guidance for internal auditors on how to provide assurance over the key risks involved in implementing robotic process automation (RPA).
How to audit culture
- Helpsheets and support
- 2018
This practical guide outlines the eight steps to follow to conduct a successful internal audit of culture.
Internal audit in the age of data analytics
- Helpsheets and support
- 2017
How internal auditors should strengthen their governance frameworks to cover emerging data-analytics risks in the areas of quality, talent, independence and security.
Webinars and recordings
Managing bribery and corruption in a downturn
- Webinar
- 10 May 2021
This joint webinar from the Business and Management Faculty and Fraud Advisory Panel, will provide a timely update on the current risks to business and how to safeguard against them.
Future proof your organisation - an internal audit approach to operational resilience
- Webinar
- 09 Mar 2021
This webinar explores how to develop an audit approach to deliver effective assurance as organisations progress their resilience journeys.
5144 reasons you should take the Modern Slavery Act seriously
- Webinar
- 01 Dec 2020
Nick Wildgoose, a supply chain risk management expert, provides a brief background on the Act itself and international context and potential developments.
Templates
Exclusive
Template: risk assessment framework
- Article
A risk assessment framework that allows organisations to capture their key risks. It is designed to be a working document that is part of the overall business performance management system.
Improve your organisation's level of assurance
- Article
- 16 Sep 2019
ICAEW’s Internal Audit Panel has identified eight risk areas where boards and audit committees should be asking themselves whether they are receiving the objective assurance they need amid increased public scrutiny.
Setting priorities to establish and expand internal audit
- Report
- 25 Jul 2019
This guide considers seven challenges commonly faced by smaller internal audit functions and provides recommendations to help heads of internal audit establish and grow an effective function that can meet its priorities.
Why CEOs and CFOs should engage with internal audit
- Article
- 03 Feb 2021
David Jardine, senior vice president, Internal Audit at bp plc, explains why Chief Executive Officers and Chief Financial Officers need to engage with the Chartered Institute of Internal Auditors’ Code of Practice and why it’s not just for internal audit teams.
Modern Slavery Act 2015
- Article
- 07 Jan 2021
This page is an introduction to the Modern Slavery Act 2015 providing background to its introduction, some key definitions and a list of useful links.
Spotting modern slavery
- Article
- 21 Jan 2021
Resources to help accountants and other finance professionals spot indicators of modern slavery in their business, their supply chains and clients' businesses and supply chains.
Reporting modern slavery and human trafficking
- Helpsheets and support
- 15 Jan 2021
Guidance on how to report if you suspect someone is a victim of modern slavery or human trafficking or if you believe it is going on in either your own firm or in a client’s business.
The role of accountants, auditors and business
- Article
- 14 Jan 2021
The role that accountants and auditors play in working to mitigate the risk that large commercial organisations face as a result of the Modern Slavery Act's requirement to annually report on the risk of modern slavery in their business and supply chains.
eBooks
The ICAEW Library & Information Service provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users. If you are unable to access an eBook, please see our Help and support advice or contact library@icaew.com.
Exclusive
Rattiner's secrets of financial planning : from running your practice to optimizing your client's experience
- eBook
- 2020
- Jeffrey H. Rattiner
- Wiley
Financial planning involves everything from determining the client's financial position, cash flow, and investment strategies, to income tax planning, risk management, insurance, and retirement and estate planning. Financial planners and advisors are responsible for recommendations and decisions that help people define and achieve their financial goals.
Exclusive
Advising the wealthy client: a handbook for working with the ultra wealthy
- eBook
- 2020
- Barbara R. Hauser
- Globe Law and Business Ltd
Countries are racing to disclose bank accounts to garner more tax income from the ultra wealthy and the politics of being in the “1% club” are not always positive. Yet these are important clients with important needs.
Exclusive
Information security risk management for ISO 27001/ISO 27002 (3rd edition)
- eBook
- 2019
- Alan Calder, Steve Watkins
- IT Governance Publishing
This book draws on emerging national and international best practice around risk management and has been written to provide detailed and practical guidance to information security and risk management teams on how to develop and implement a risk assessment and risk management process that will be in line with the requirements of ISO 27001.
Exclusive
Volatility: practical options theory
- eBook
- 2018
- Adam S. Iqbal
- John Wiley & Sons, Inc.
This book studies options, the financial contracts that provide exposure to volatility. The main objective in this book is to provide an intuitive, as well as technical, understanding of both the basic and advanced ideas in options theory, with the aim of encouraging translational work from theory into practical application by market makers, portfolio managers, investment managers, risk managers, traders, and other market practitioners.
Exclusive
Practice aid: Enterprise Risk Management: Guidance For Practical Implementation and Assessment
- eBook
- 2018
- AICPA & CIMA
- Association of International Certified Professional Accountants
This publication gives guidance for anyone responsible for or advising on an enterprise risk management process (ERM), This resource will help ensure the ERM process is well designed, well executed, and ultimately successful. Provides illustrative examples, best practices, and guidance for implementing or assessing an enterprise risk management process.
Exclusive
Intelligent credit scoring : building and implementing better credit risk scorecards.
- eBook
- 2017
- Naeem Siddiqi
- John Wiley and Son
This book presents a business-oriented process for the development and implementation of risk prediction scorecards. Credit scoring is now a very common tool used by banks, Telcos, and others around the world for loan origination, decisioning, credit limit management, collections management, cross selling, and many other decisions.
Terms of use
You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.
Business press
The Library provides access to leading business, finance and management journals. These journals are available to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.
Exclusive
CEOs who take risks with sports may do the same with taxes
- Article
- 11 May 2022
- Michael Cohn
- Accounting Today
CEOs who prefer risky sports hobbies are more likely to take a risky approach to their company's tax planning, according to a new study published by the American Accounting Association. The sports hobbies of CEOs could become a possible tool for auditors interested in assessing corporate tax risk or even for integrated reporting.
Exclusive
Use small nudges to avoid employee misconduct
- Article
- 01 May 2022
- Tijs Besieux, Femke de Vries, Wieke Scholten
- Harvard Business Review
Behavioural nudges can complement traditional methods of risk management. The authors of this article draw on their experience advising some of Europe’s largest financial institutions to present an alternative approach to compliance that is based on the principles and discoveries of behavioural psychology.
Exclusive
The impact of remote workers on crisis, risk and business continuity management
- Article
- 01 Apr 2022
- Andreas Rodman
- Journal of Business Continuity and Emergency Planning
Andreas Rodman discusses how the shift to remote working since the outbreak of COVID-19 has affected enterprise risk management, business continuity management and crisis management. He shares tips, software tools and processes to help employers manage this impact.
Exclusive
You've suffered a supply chain disruption: Now what?
- Article
- 01 Mar 2022
- Robert J.Trent
- Supply Chain Management Review
You may not be able to avoid supply chain disruptions, but you can take steps to assess your company's vulnerability, risk exposure and courses of action as quickly as possible. Robert J.Trent contrasts examples of companies which handled a supply chain disruption well, vs examples of companies which were slow to adapt.
Exclusive
The risks facing the CFO
- Article
- 01 Mar 2022
- Frank Manzi, Mark Martinelli
- CPA Journal
Article exploring some of the business risks from ongoing challenges such as newly unfolding economic events, a remote workforce and supply chain disruptions, as well as consumer expectations. The authors look at the role that a CFO plays in identifying and developing effective enterprise risk management practices.
Exclusive
Procurement's new charter
- Article
- 01 Jul 2021
- Alex Yakubovich
- Strategic Finance
Procurement teams are moving beyond cost containment to better manage risk, support business agility, maintain supply continuity, and seize opportunities for supplier-driven innovation. Many teams are fast-tracking initiatives such as automating their procurement process and digitizing more supplier information.
Articles and books in the ICAEW Library collection
The collection of the ICAEW Library & Information Service includes a range of articles, books and reports on risk management. Use the links below to see what we have available to request in our Library catalogue (Libcat).
Operational risk management in financial services: a practical guide to establishing effective solutions
- Library book
- 2022
- E.Pykhova
- Kogan Page
This practical guide includes appendixes containing an operational risk champion role description, example operational risk event reporting template, ORA template and table of 50 key risk indicators.
Risk and compliance: questions and answers
- Library book
- 2022
- R.Atkinson
- Law Society Publishing
Provides practical guidance on points that those tasked with risk and compliance in their firm or business need to consider, with 200 questions and answers. Sections cover anti-money laundering, financial crime and regulation and compliance: including SRA accounts rules and compliance questions for running a law firm.
Risk management update for accountants and tax advisers
- Library book
- 2021
- K.Eckstein
- LexisNexis
A Tolley's Tax Digest on getting risk management processes right. Covers: planning for the client retainer; how to get the retainer right; retainer creep; liability caps; consumers; disputes within clients; termination of the retainer; fee disputes; and common causes of claims & how to prevent them.
Managing risk: a guide for accountants and tax advisers
- Library book
- 2019
- K.Eckstein
- Claritax Books
Aimed at smaller and mid-sized firms, this book highlights areas of danger and advises how firms can develop processes to reduce the risks. Practical advice is given on such topics as engagement letters, liability caps, invoicing, office systems, and managing planned and unplanned staff absence.
Fundamentals of risk management: understanding, evaluating and implementing effective risk management
- Library book
- 2018
- P.Hopkin
- Kogan Page
A comprehensive introduction to commercial and business risk for students and risk professionals. It provides a full analysis of the changes in contemporary risk areas including supply chain, cyber risk, risk culture and appetite, improvements in risk management documentation and statutory risk reporting.
Rethinking reputational risk: how to manage the risks that can ruin your business, your reputation and you
- Library book
- 2017
- A.Fitzsimmons
- Kogan Page
This book explains what will make your organization and its reputation intrinsically resilient and what makes them, and you, predictably vulnerable. Armed with these insights, you can find and deal with fault lines before they cause harm.
Accounting for financial instruments: a guide to valuation and risk management
- Library book
- 2017
- E.Camilleri
- Routledge
A book about the accounting and regulatory framework associated with the acquisition and disposal of financial instruments, including how to determine their value and ultimately compile a business valuation report.
Successful outsourcing and multi-sourcing
- Library book
- 2014
- D.Parlour
- Gower
As well as focusing on multi-sourcing, this book addresses the question of why a business should outsource in the first place and how decisions to do this should be strategic. The chapters aim to illuminate the benefits of single-sourcing, the benefits of multi-sourcing, how best to decide what outsourcing model to choose; how to transition to outsourcing, and what steps to take to maximise benefit and minimise risk.
To find out how you can borrow books from the Library please see our guide to borrowing books.
You can obtain copies of articles or extracts of books and reports through our document supply service.
External resources - Organisations
Association of Insurance and Risk Managers (AIRMIC)
- Website
Members’ association supporting those responsible for risk management and insurance within their own companies.
Global Association of Risk Professionals (GARP)
- Website
Independent association of risk management practitioners and researchers. The news and resources section includes research, white papers, webcasts and a digital library (free site registration required for member only content).
Institute of Risk Management (IRM)
- Website
Non-profit educational body which supports the IRM Diploma in Risk Management. Its Risk Management Standard, published by IRM, AIRMIC and ALARM in 2002, is freely available, as is its Standard Deviations - A Risk Practitioners Guide to ISO 31000 guide, published in 2018.
Oxford University Centre for Corporate Reputation
- Website
Independent research centre established in January 2008. Site provides access to articles from Reputation Magazine (which is published termly) - plus papers and case studies.
Risk Management Association (RMA)
- Website
US-based professional association for lending, credit and risk management professionals. The site includes a fee based search facility and archive for articles from the RMA Journal from 1980 to the present.
Risk and Insurance Management Society (RIMS)
- Website
US-based professional body. The site includes a wide range of information, publications such as the Risk Management Magazine, and sample risk management documents.
Society for Risk Analysis
- Website
The Risk Coalition
- Website
An association of not-for-profit professional bodies and membership organisations committed to raising the standards of risk management in the UK.
Terms of use
ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided 'as is' with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.
External resources - Guides and publications
EY/IIF Global bank risk management survey
- Website
- 2021
- EY
Annual survey looking at how banks are addressing current threats. The 11th edition of the survey, with an accompanying highlights podcast, explores the top priorities - including climate change, credit risk, cybersecurity and the impact of technology - and what that means for risk management.
Global RepTrak 100
- Website
- 2022
- Reptrak
Annual survey which reveals how stakeholders perceive companies, providing a ranking of corporate reputation for the world's leading companies.
Global risk management survey - 12th edition
- Website
- 2021
- Deloitte
Deloitte survey assessing the state of risk management in financial institutions around the world. The 12th edition was conducted during March to September 2020, with respondents answering questions about the most important trends and challenges for their institutions over the next two years.
ISO 3100 Risk Management
- Website
- 2021
- International Organization for Standardization
Global risk management standard from the International Organization for Standardization (ISO). It provides principles, a framework and a process for managing risk. The standard can be used by any organization regardless of its size, activity or sector.
Managing risk in your business
- Website
- 2022
- Be The Business
Working through a risk management matrix, like this one from Smartsheet, is a useful way to assess and mitigate potential risks. The matrix can be downloaded as a pdf template.
The Global Risks Report 2021
- Website
- 2021
- World Economic Forum
World Economic Forum publication that analyses risks facing the world from societal fractures - manifested through persistent and emerging risks to human health, rising unemployment, widening digital divides, youth disillusionment, and geopolitical fragmentation.
Terms of use
ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided 'as is' with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.
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