Can resilience be achieved through processes and functions such as risk management, business continuity, technology and security, or must an organisation’s culture, circumstances and behaviours be considered?
Improved resilience breeds increased confidence, greater enterprise and other benefits – a threat to one organisation can be an opportunity for another where companies who develop solid enterprise resilience frameworks can achieve competitive advantage in their market or industry. This publication builds on the World Economic Forum’s recent report which analysed dozens of global risks, based on a survey of 700 experts from industry, government and academia.
Alignment of a company’s purpose, vision and values to that of wider society is paramount in creating new opportunities, managing global risks and building resilience to achieve the right corporate culture.
True enterprise resilience is a quality rather than an absolute, a state that is enhanced or diminished by an organisation’s ability to anticipate and react to change not only to survive, but to evolve. Frameworks have been developed to actively manage both the downside and upside from risk.
Premium listed companies could be forgiven for concluding that they receive mixed messages from the regulators when it comes to preparing the corporate governance report. This report grew out of discussions with a range of companies late in 2012 and at the start of 2013 during which it was apparent that there is widespread frustration with the content of governance reporting in today’s annual reports. Though this may sound negative, we took away a positive message: everyone we spoke to saw the value in making a change and there was a real appetite to understand what might be done.
In September 2012, the Financial Reporting Council (‘FRC’) made a number of changes to the UK Corporate Governance Code (‘the Code’) for premium listed companies, to apply for September 2013 year ends. This publication looks at the new audit tendering guidelines.
Practical guide to the significant new requirements that affect corporate governance reporting as a result of the 2012 version of the UK Corporate Governance Code (‘the Code’), which is applicable for September 2013 year-ends onwards.
PwC guide to the revised UK corporate governance code
We are continually striving to gain a better understanding of the issues affecting businesses both today and in the future as we look to provide insights on the benefits and possibilities that arise from good governance, risk and compliance. We hope this magazine provides you with the practical knowledge required to establish your company as a truly resilient one.
A number of significant changes to the front half of the annual report, and to how auditors report on it, are due to take effect for September 2013 year-ends onwards. Although they cover a broad range of topics they are all related to how directors can show that they have exercised proper stewardship over their shareholders’ funds.
In this paper the third in a series of publications, we focus on the degree to which organisational culture, values and internal behavioural norms contribute to the risk resilience of the organisation and the relationship between business ethics, integrity and risk.
The FRC revised the UK Corporate Governance Code in September 2012 with measures to enhance company reporting and give investors more confidence on the reliability of the annual report taken as a whole. These changes to the Code have generated widespread debate and the corporate reporting team has produced the following publication setting out our main views on the topic.
Is trust in business tangible? Is it possible to manage trust proactively? Our view is that by understanding the drivers of trust, organisations can create an asset which can be measured and managed. And managed well, it can help organisations to achieve their strategic goals.
This guide aims to encourage companies and executives to consider corporate governance in the widest sense, including board efficiency, transparency, reporting requirements, investor communications and sustainability. We hope you find it useful and informative.
At PwC we are continually striving to gain a better understanding of the issues affecting businesses both today and in the future as we look to provide insights on the benefits and possibilities that arise from good governance, risk and compliance. We hope this magazine provides you with the practical knowledge required to establish your company as a truly resilient one
An overview of the topical issues that are currently affecting and driving the governance, risk and compliance landscape.
Our Governance, Risk and Compliance (GRC) team have been working with the Institute of Directors to produce a new practical guide for board members to help them gain a better understanding of how their own risk management activities should interact with the board in a manner that promotes the overall success of the organisation.
In this paper we identify what drives resilience and how it serves the organisation in good times and bad, and identify emerging practices in leading organisations, before setting out a possible future agenda for developing risk resilience further.
Global Cyber Security spending is expected to reach $60 billion in 2011 and is forecast to grow at 10 percent every year during the next three to five years. In most global regions, the private sector accounts for the majority of Cyber Security spending, the U.S. is the notable exception where government spending is almost equal to the private sector.
A team led by Qadir Marikar (Partner in Risk Assurance) have carried out a study into notable practices adopted in the management of contractors engaging in high risk activities across 21 major organisations and six different sectors.
Social Media Governance – It’s just another pilot…
Rethinking social media measuring and return on investment
Social Media Governance – Advocates and mentors. Driving adoption of Social Media.
Social Media Governance - No need to start shouting, this website has not been blocked by your administrator. But is this what you see when you try to access sites which are deemed inappropriate by your organisation? Of course it is! But does this apply to social media too?
Email needs to be replaced. Whether you agree or disagree, you'll probably agree that the rise in social media is changing the way that we communicate. Perhaps email is not going to die altogether, but become more archaic like snail mail today. I was initially a little sceptical when I started exploring what may happen to email in the next five years until I mentioned it to my wife - she told me how just the other week she had asked her teenage niece to email her something, to which the response was "email!? That's so yesterday. I'll Facebook it to you!".
What type of policy does your organisation have for the use of Social Media? The subject of policy doesn’t need to be as dull as it may sound at first. It goes without saying that an effective policy will help manage risk for your organisation. But when it comes to Social Media it’s time to rethink your policy. Who says it even needs to be called a policy? Why not guidelines, a rule book or even a playbook?
The Government (Department for Business, Innovation and Skills) published proposed revised Regulations for the Directors’ Remuneration Report in June 2012, to take effect for years ending after October 2013. The final Regulations are due early in 2013, following the consultation process.
The Annual General Meeting (AGM) season will soon be upon us, and some companies will again be in the spotlight from investors. Management and directors increasingly need to prepare for resolutions to come under attack or be lost and even for potential disruption of the meeting – all of which can generate negative publicity.
Governance disclosures tend to focus on the group but there can be a disconnect between the group-level, governance structures and those that operate in (often very significant) individual territories. This can lead to a lack of clarity around responsibility for matters that do not map easily to the group structure, such as local legal or regulatory requirements (in areas such as as tax and pensions for instance) and create uncertainty as to the responsibilities of directors in local statutory entities.
Personal dishonesty, a lack of integrity, anti-competitive practices, supply chain fraud, health and safety and compliance violations are all a risk to your business, people and reputation.
Finance Bill 2011 - implications for corporate tax reform
The development of regulation worldwide poses difficult questions for businesses. Do your people understand that most vital development: corporate risk is now personal?
All reputations are built on trust. Let personal data fall into the wrong hands and that trust is blown in a single stroke. It’s a risk that all businesses are waking up to.
Are you leaving risk to look after itself? Stay ahead
No business is competitive without risk. If you don’t know where it lies then your business may soon be nowhere at all. The first rule of risk is: spot it, measure it and monitor it.
We consider some of the key business challenges facing businesses and some of the steps that can be taken to mitigate and in certain cases, take advantage of, today's business risks.
Your business strategy may be clear and robust, but how do you plan for unexpected events? Is your organisation resilient enough to withstand the disruption?
Your people may be your most important asset, but they can also represent a hidden business risk.
Projects may be very different but there’s one thing they all share: risk. Will you fulfil your objectives? Deliver on time and to budget?