Despite the lessons of the financial crisis many companies still fail to impose effective risk management, according to the International Federation of Accountants.
The financial crisis placed a new emphasis on effective risk management for company boards, according to the International Federation of Accountants (IFAC).
This has led to criticism that boards pay too much attention to risk leading to cautious decision-making.
Elsewhere regulators have turned their attention to risk too. The UK’s Financial Reporting Council reviewed and then revised its combined code stressing risk as a central concern for the board.
Internationally risk is also a big issue and now IFAC has issued its own guide to effecti
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It's time to recognise that sustainable development is a strategic issue that can secure the future of business, as well as securing a better future for people and planet, says Jonathan Labrey of the IIRC.