A Director's Guide to Governance in the Boardroom

CHAPTER THREE Risk Management in the Boardroom

Vicky Kubitscheck

DOI: 10.4324/9781003142850-3

Introduction

This chapter focusses on the oversight and management of risks – one of the key areas underpinning effective corporate governance. After setting the scene with a brief review of the concept of risk management and its rise in stature in the boardroom, we will discuss the key principles of good risk management practices and their role in strengthening the resilience and viability of organisations. By focussing on principles, our discussion is transferable between sectors and industries. These principles can be applied proportionately to the nature, size, and complexity of the organisation in the private, public, and charity/voluntary sectors ...