26 October 2014
Boardroom risk agenda is refocused with the FRC’s revised guidance
The Financial Reporting Council’s latest update to the corporate code published in September highlighted specific changes to the way corporations should report on risk. The code states that ‘Companies should robustly assess their principal risks and explain how they are being managed or mitigated’. The key words here are ‘robustly assess’, indicating a growing frustration from the FRC with the way principal risks are reported.
The term ‘principal risk’ was first introduced in the Enhanced...