Risk Management

‘Risk management can enhance the environment
for identifying opportunities to create and protect value.’

ASX Corporate Governance Council
2nd Ed. Corporate Governance Principles and Recommendations

Is this you?

As part of your fiduciary role as a director, are you finding it difficult to ensure that management has developed and implemented a process for identifying potential risks sufficiently across your organisation? How do you identify and address issues before they become big problems? Have you developed procedures if unavoidable crises should occur?

Purpose

To establish an appropriate risk culture and embed relevant behaviours across your organisation. Risk management is defined as "the culture, processes and structures that are directed towards taking advantage of potential opportunities while managing potential adverse effects". (AASB 128)

Intended results

Risk management mechanisms should be designed to:

1. Identify, assess, monitors and manage risk
2. Identify material changes to the company’s risk profile

BTO can help you...

• Establish policies for the oversight and management of risk, which may include: operational, environmental, sustainability, compliance, strategic, ethical conduct, reputation or brand, technological, products or service quality, human capital, financial reporting and market-related risks
• Design and implement the risk management and internal control system to manage risk
• Ensure that the board receives assurance from the CEO that a sound system of risk and internal control is operating effectively
• Embed a risk management culture including: establishing your risk appetite, developing a risk register and matrix, assigning roles and responsibilities, designing a risk report template, project manage a risk management implementation

Call us on 0425 210 249 or complete our contact form to discuss your needs.