ERM Developments and Opportunities [8]

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Bullet points include: FRC’s updated Corporate Governance Code applies to accounting periods beginning on or after 1 Oct 2014 and to all companies with Premium listing of equity shares regardless of where incorporated. Includes sections on: Leadership, Effectiveness, Accountability, Remuneration and Relations with Shareholders. Section on Accountability now includes: “The board is responsible for determining the nature and extent of the principal risks it is willing to take in achieving its strategic objectives. The board should maintain sound risk management and internal control systems.” [C.2] “The board should establish formal and transparent arrangements for considering how they should apply the corporate reporting, risk management and internal control principles and for maintaining an appropriate relationship with the company’s auditors.” [C.3]

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