Businesses must take action to weather geopolitical storms
As the one-year anniversary of the war in Ukraine approaches, Chartered IIA is urging business leaders to prepare for further geopolitical incidents as global pressures rise.
Guidance for corporate governance professionals working on risk committees. In smaller companies it is likely that there will not be a separate risk committee and risk will be the responsibility of the audit (or audit and risk) committee.
As the one-year anniversary of the war in Ukraine approaches, Chartered IIA is urging business leaders to prepare for further geopolitical incidents as global pressures rise.
The raft of risks facing a business are more complex, interrelated, and fast-moving than ever before. Good risk management, therefore, is key to helping organisations thrive – not just survive. We examine how boards can help their organisations manage risk more effectively and foster resilience in such uncertain times.
What are the key factors behind the emergence of fraud risks and how should organisations ensure their controls are fit for purpose? Two experienced audit committee chairs provide their thoughts.
Targets set out by Parker Review for ethnic minority representation on boards risk being a tick-box exercise, experts warn.
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.
Based on in-depth interviews with audit committee members in seven CEE countries, this report draws out insights on how audit committees are working, how they are having an impact and how they view the future. It provides insights into some of the common challenges still remaining at a time when the role of audit committees is expanding, largely driven by the introduction of new statutory requirements
The ICAEW published the report Audit of banks: lessons from the crisis in June 2010 and committed to produce good practice guidance to enhance the dialogue between bank auditors and their audit committees. This report sets out that guidance. It considers ‘dialogue’ in its broadest sense, covering the fundamentals of a good auditor/audit committee relationship, the structuring of meetings throughout the audit cycle, and the content and style of reporting to the audit committee.
An analysis of audit committee reporting
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.
In this webinar we will cover three challenges for committees, and practical suggestions for how to work more effectively and efficiently.
Angela Crawford-Ingle, Chair of Audit & Risk Committees at Beazley plc, Swinton Insurance and River and Mercantile Group, and Tim Copnell, Founding Chairman of KPMG’s UK Audit Committee Institute share best practice in leading an effective Audit Committee.
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.
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 Accounting and Tax Service.
Practical guidance to assist board risk committees with their responsibilities.
Practical guidance on the effectiveness of audit, risk, remuneration and nomination board committees.
A chapter exploring how the oversight of risk should be dealt with at the level of the board of directors.
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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 explains why having expert oversight over your organisation's use of AI can safeguard your data and your brand. An AI ethics committee can identify and mitigate the ethical risks of AI products that are developed in-house or procured from third-party vendors.
This article offers 7 questions to ask to make sure your board understands how cybersecurity is being managed by your organisation. Asking these questions will also raise awareness of the importance of cybersecurity, and the need to prioritize action.
Article discusses how internal audit can help the board see an accurate picture of cyber risk
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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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