ERM Developments and Opportunities [9]

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Bullet points include: C2.2 indicates that Directors should: Confirm in annual report that they have carried out a “robust assessment of the principal risks facing the company, including those that would threaten its business model, future performance, solvency or liquidity.” Monitor and review company’s risk management and internal control systems (including financial, operational and compliance controls) and “at least annually, carry out a review of their effectiveness, and report on that review in the annual report.” Although C.3 refers to risk management it primarily relates to the board audit committee, internal audit function and interaction with external auditors With a presumption that auditors are the likely experts in risk governance?

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