VIEW: New corporate governance code is good news for risk managers

The IRM is pleased to see that the new Financial Reporting Council (FRC) Corporate Governance Code places greater focus on risk. This includes an explicit mention in Section 1 ‘Board Leadership and Company Purpose’ – as recommended in the response IRM submitted to the FRC earlier in 2018.

Section 1 states that the board should establish a framework of prudent and effective controls, which enable risks to be assessed and managed. The provisions further state that companies should describe in their annual report how opportunities and risks to the future success of the business have been considered and addressed.

The new Corporate Governance Code adds greater impetus for all risk management professionals to take a leading role working with companies who follow the Code in addressing both current, emerging risks and opportunities. Food for thought for risk managers.

In other news, we’re delighted to be able to announce that we’ll be working with the University of Warwick on our new Digital Risk Management Certificate. This jointly developed specialist qualification has been designed to equip individuals to apply and develop their skills in an increasingly digital world. It will look at how to carry out digital risk assessments, provide a detailed grounding in cyber security principles and practices and also look at the ethical issues surrounding both privacy and machine learning. We’ll be open for enrolments soon, but meantime you can find out more and take the digital quiz on our website to test your knowledge.

We’re also open for bookings for our 9th Annual Risk Leaders Conference – Risk Management the Next Generation. The IRM’s 2017 research report ‘Setting the Risk Agenda: Exploring the future of the risk management profession’ highlighted a number of key issues facing the profession, amongst them technological change, including AI and big data; geopolitical volatility; culture and behaviour; and professional practice. Risk Leaders 2018 will provide a forum for debate and discussion of these issues. We look forward to welcoming you.

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