Author

Chartered Accountants Australia New Zealand
The Ethics Centre
Governance Institute of Australia
Institute of  Internal Auditors – Australia

Date

Topics Explored

Format

Extract/Description

Risk is a part of all business activity. The emphasis an organisation pays to its business risks sets the scene for the conduct of its employees and determines how risks are identified, understood, discussed and acted upon.

This book explores the foundational elements of a sound risk culture. these elements set the management of risk within a broader organisational culture context, and the perspectives of a broad field of researchers, regulators and thinkers in culture and ethics are presented.

Key Points

1. Regulators across the globe are grappling with the issue of risk culture and how best to monitor it.
2. The board is ultimately responsible for the definition and oversight of culture.
3. Culture plays an important role in risk management.
4. An ethical framework – which is different from a code of ethics or a code of conduct – should sit at the heart of the governance framework of an organisation.
5. In organisations with strong ethical cultures, the systems and processes of the organisation will align with the ethical framework.

Relevant Industries

Level of Assumed Knowledge