
Corporate governance pressures
The primary aim of the Turnbull committee is to ensure that
corporate risk management becomes an integrated manage-
ment process rather than an isolated year-end exercise. The
spirit of the committee’s guidance is that risk management
should be used to help businesses achieve their key objectives.
The scope of the guidance is broader than that of the previous
Cadbury guidance, in that the review procedures must cover
business, operational, and compliance as well as financial
control.
The main challenges with the guidance are:
•
The identification and management of risk should be linked
to achievement of business objectives and ...