PRECISE. PROVEN. PERFORMANCE.

© 2011 Moore Stephens LLP

Association of Financial Mutuals: Corporate Secretaries ForumThe Board and strategic risk

April 2011

Governance Risk and Assurance

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 HillaryPartner, Governance Risk and Assurance

E mail: sarah.hillary@moorestephens.comTelephone: 0207 334 9191

Robert Noye-AllenPartner, Governance Risk and Assurance

E mail: robert.noye-allen@moorestephens.comTelephone: 0207 334 9191

Moore Stephens150 Aldersgate Street

LondonEC1A 4AB