Risk Governance gaining importance - Monetary Authority of Singapore

Monetary Authority of Singapore (MAS) has released a set of guidelines for Risk Governance for listed Boards. According to this report,

"This Guidance has been prepared with a focus on how the Board can carry out its responsibility of risk governance of the company. The Guidance is intended to provide key information on risk governance to all Board members. This includes factors which the Board should collectively consider when overseeing the company‘s risk management framework and policies. The Guidance also spells out the Board‘s and Management‘s respective responsibilities in managing the company‘s risks. In particular, the Council hopes that the Guidance will assist the Board, as well as Management, of small to mid-capitalised listed companies in the risk governance of their companies."

Riskpro is of the view that all these guidelines and reports equally apply to any organisation in any part of the world. We strongly recommend that listed Boards also adopt these best practices to improve their risk governance structures. Riskpro would be glad to assist in related advisory and consulting. Please contact manoj.jain@riskpro.in for more information on these developments.

We are also closely monitoring the developments of UK Corporate Governance Code and other international best practices.

Use the link below to download the MAS report

http://www.mas.gov.sg/resource/fin_development/corporate_governance/Risk...

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