Association of Financial Mutuals:
Corporate Secretaries Forum
The Board and strategic risk
April 2011
© 2011 Moore Stephens LLP
Governance Risk and Assurance
PRECISE. PROVEN. PERFORMANCE.
It’s real and its personal
Changing world
• Increased regulation
• New laws e.g. Bribery Act
• Impact of economic climate
• Increased stakeholders expectations
Challenges for the Board
• Individual Directors
• Accountability versus responsibility
• Leadership – clear direction
• Compliance culture
• Appetite for risk
Board responsibilities
• Communicate and cascade
• Challenge and support
• Stakeholder assurance
• Proportionate control
Good governance
• Greater focus on governance across sectors
• Links to performance
• Stand out from competition
• Sources of assurance
Practical action
• Risk management framework
• Risk identification
• Reporting, monitoring and management information
• Practical tool
Rhiza – Key features
• Drives the risk management methodology in line with best
practice
• Provides clear ownership of risks and controls at board and
management level
• Simple, flexible and cost effective
• Provides evidence of a dynamic process and effective monitoring
Rhiza – main menu
Rhiza – risk register
Rhiza – controls and tests
Rhiza – issue management
Rhiza – reporting
Thank you
Any questions?
Sarah Hillary
Robert Noye-Allen
Partner, Governance Risk and Assurance
Partner, Governance Risk and Assurance
E mail: sarah.hillary@moorestephens.com
E mail: robert.noye-allen@moorestephens.com
Telephone: 0207 334 9191
Telephone: 0207 334 9191
Moore Stephens
150 Aldersgate Street
London
EC1A 4AB