Implications of the Queen's Speech for Board Strategic Risk Governance
19/Dec/19 14:03
Today's Queen's Speech has potentially important implications for board practice and strategic risk governance, initially in the UK, and perhaps later in other Anglosphere nations.
The recent update to the UK Corporate Governance Code set a new requirement for boards to carry out a robust assessment of emerging risks. Today's speech announced the creation of a new Audit, Reporting, and Governance Authority, which may have the power to pursue criminal charges against directors who make misleading statements to financial markets.
Clearly, this will very substantially raise the bar for the required rigour of the processes and systems boards use to anticipate, assess, and adapt in time to emerging strategic threats, which is the focus of our work at Britten Coyne Partners.
The recent update to the UK Corporate Governance Code set a new requirement for boards to carry out a robust assessment of emerging risks. Today's speech announced the creation of a new Audit, Reporting, and Governance Authority, which may have the power to pursue criminal charges against directors who make misleading statements to financial markets.
Clearly, this will very substantially raise the bar for the required rigour of the processes and systems boards use to anticipate, assess, and adapt in time to emerging strategic threats, which is the focus of our work at Britten Coyne Partners.
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