Now more than ever boards need to prepare for strategic risks and look beyond short-term forecasts by using long-term scenario planning and risk modelling.
Articles and features
ICAEW’s Zsuzsanna Schiff looks at the results of the Centre for the Study of Financial Innovation (CSFI) and PwC’s 2021 Insurance Banana Skins.
Focused on sustainability reporting, this edition contains a nutshell guide to developments, a practical guide to implementing TCFD recommendations and articles on climate-risk in financial statements. Plus other topical issues for the 2021/22 reporting season, including risk reporting beyond climate-risk.
Sharing some practical tips to help you start implementing the recommendations of the Task Force on Climate-related Financial Disclosures.
This report expands our examination to audit committees in a further six EU countries, spread across the centre and south, with various corporate governance traditions and different sized capital markets – namely Belgium, Cyprus, Greece, Malta, The Netherlands and Portugal.
Assurance maps can be a powerful tool providing great insights for boards, senior management and audit committees. Here the Audit and Assurance Faculty explores the concept of assurance maps and the benefits to various stakeholders.
This report is intended as a timely contribution to debate about how risk reporting should evolve. It reviews both the general experience of risk reporting to date and the risk reporting of financial institutions before the crisis, considers why risk reporting is thought to have been disappointing (Chapter 3), and suggests ways to improve it.
This special report, which looks at internal control from a risk-based perspective, could not have come at a more fitting time. Recent events at France’s Société Générale highlight how even the largest and most highly regulated businesses can be severely compromised by the apparent failure of internal controls.
The management of risk has come a long way in the last 10 years. When we first wrote a guideline for the Faculty, the term ‘risk management’ was still evolving.
A briefing document from The Faculty of Finance and Management of The Institute of Chartered Accountants in England & Wales
Webinars and other recordings
In this webinar we will cover three challenges for committees, and practical suggestions for how to work more effectively and efficiently.
Ian Foxley, whistleblower and Dino Bossi, Addveritas share their views on the benefits of whistleblowing and the system that should be in place to support people.
Jennifer Janson, Six Degrees and Jamie Harley, PwC discuss the potential impact of social media on reputation, how best to manage this risk and use social media to the benefit of the organisation.
Simon Shooter, Head of Cybersecurity and Co-Head of International Commercial Group, Bird & Bird LLP, Kirstin Gillon and Mark Taylor from ICAEW’s IT Faculty provide an overview of the Audit Insights: Cyber Security report.
Disclaimer: The opinions expressed by external guest speakers in interviews or other publications included on this website are, by their nature, those of the speaker. They are not necessarily fully endorsed by the ICAEW or purport to reflect the official policies and views of the ICAEW or its members.
Bloomsbury Core Accounting and Tax Service
Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising more than 60 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Core Accounting and Tax Service.
Practical guidance to assist board risk committees with their responsibilities.
A chapter exploring how the oversight of risk should be dealt with at the level of the board of directors.
Practical guidance on the effectiveness of audit, risk, remuneration and nomination board committees.
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This title provides comprehensive, expert-led coverage of all aspects of corporate governance for public, nonprofit, and private boards. This chapter looks role of the board in risk management oversight, usually by the audit committee or by establishing a separate risk committee.
Chapter 3 deals with the structure of the board, its governance role and responsibilities. It also gives brief overviews of the different types of board committees, including: audit; nomination; remuneration; and risk committees. These are dealt with in more detail in later chapters.
An introduction to governance for directors and executives. Chapter 12 deals with risk management with sections on: risk management and corporate governance; risk assessment; controls; risk management; Basel II; ERM framework; COSO ERM framework.
An essential source of reference and route map for the position of Non-executive director. Contains case studies and checklists throughout. Chapter 9 of the handbook covers Internal control and risk management and includes a Model terms of reference for an audit committee: internal control, risk management and internal audit
This title provides comprehensive, expert-led coverage of all aspects of corporate governance for public, nonprofit, and private boards. This section comprises two chapters: Information technology and cyber security in a digital world and; The board's role in the governance of enterprise information and technology.
Chapter 10 discusses risk management and business objectives, risk management and organisational culture, the boards responsibility for internal control and risk management, the audit/risk committee and the internal audit function.
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Article discusses how internal audit can help the board see an accurate picture of cyber risk
Article discusses internal IT security threats and how these shouldn't be left to the IT department and should b addressed by an organisation's internal controls.
The article discusses the need for companies to establish strong risk committee relationships to successfully resolve the challenges posed by the COVID-19 pandemic.
ICSA guidance note updated in June 2013 which provides 'model terms of reference for the risk committee of a company and is particularly relevant to banks and other financial institutions (BOFIs).' It 'draws on the experience of company secretaries and is based on best practice as carried out in some of the UK’s largest listed companies.'
Principles-based guidance for board risk committees and risk functions in the UK financial services sector from the Risk Coalition.
Principles-based guidance for board risk committees and risk functions in the UK financial services sector.
KPMG Board Leadership Centre guidance and resources to help risk committee members navigate the risk landscape
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