PRECISE. PROVEN. PERFORMANCE. © 2011 Moore Stephens LLP Association of Financial Mutuals: Corporate Secretaries Forum The Board and strategic risk April 2011 Governance Risk and Assurance

It’s real and its personal

Changing world Increased regulation New laws e.g. Bribery Act Impact of economic climate Increased stakeholders expectations

Challenges for the Board Individual Directors Accountability versus responsibility Leadership – clear direction Compliance culture Appetite for risk

Board responsibilities Communicate and cascade Challenge and support Stakeholder assurance Proportionate control

Good governance Greater focus on governance across sectors Links to performance Stand out from competition Sources of assurance

Practical action Risk management framework Risk identification Reporting, monitoring and management information Practical tool

Rhiza – Key features Drives the risk management methodology in line with best practice Provides clear ownership of risks and controls at board and management level Simple, flexible and cost effective Provides evidence of a dynamic process and effective monitoring

Rhiza – main menu

Rhiza – risk register

Rhiza – controls and tests

Rhiza – issue management

Rhiza – reporting

Thank you Any questions?

Sarah Hillary Partner, Governance Risk and Assurance E mail: Telephone: Robert Noye-Allen Partner, Governance Risk and Assurance E mail: Telephone: Moore Stephens 150 Aldersgate Street London EC1A 4AB