Climate change and sustainability has been placed firmly in the spotlight of media and society’s attention. Focus is now turning even more to the business world to play its part.
Articles and features
Businesses and organisations today find themselves operating in a highly volatile and ambiguous world.
A decade on from the financial crisis in 2008, there are still no coherent guidelines for risk in financial services. Peter Neville Lewis looks at the challenges and provides answers.
The UK is witnessing a battle to restore trust in business. Governance is more in the spotlight than at any time since the ‘Maxwell years’ which immediately preceded the 1992 Cadbury report.
Audit committees in Europe report.
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
Stuart Jubb, MD of Consulting at Crossword Cybersecurity, and Nikki Cole, an experienced Non-Executive Director, discuss the processes that Boards should have in place to manage their cybersecurity risks.
In this webinar we will cover three challenges for committees, and practical suggestions for how to work more effectively and efficiently.
Martyn Scrivens, Chair of the ICAEW's Internal Audit Advisory Panel and Martin Robinson, consultant for the Fraud Advisory Panel and advisor to the Chartered Institute of Internal Audit, look at the role of internal audit and its use in preventing, detecting and responding to fraud.
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.
The Library & Information Service provides a collection of eBooks as a benefit of membership. Please note that ICSA and Credo publications are only available to ICAEW members and ACA students. Please log in to access these titles. If you are unable to access an eBook, please see our Help and support or contact email@example.com.
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 revisits the board 's risk governance model and director skill sets; make culture an enterprise asset as well as an oversight priority; and focus on the quality of the risk management process.
Reports in the KPMG 2019 global audit committee survey which states that it is "increasingly difficult" to oversee the major risks on the audit committee's agenda in addition to its core financial reporting oversight responsibilities. Committees should also probe the audit firm on its quality control systems that are intended to drive sustainable, improved audit quality, including the firm's use of new technologies.
The article offers suggestions for increasing corporate cybersecurity efforts for the board. Topics discussed include ineffectiveness of artificial intelligence in preventing cybercrime and data security failures; making sustainable data privacy compliance; and verifying identities and providing access to resources through authentication.
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
The FRC published the revised Guidance for board effectiveness in July 2018. Section 4 Audit, risk and internal control look as the audit committee's (or risk committee's if separate) responsibility in this area.
National Association of Corporate Directors (NACD) report which aims to assist directors in meeting additional responsibilities associated with considering Environmental, Social and Governance (ESG) factors when setting company strategy and risk. Requires free registration to download.
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