Board Risk Committee Guide

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Different companies have different committees for risk management – Management Risk Committee, Board Risk Committee, Audit and Risk Committee, specialised Board-level risk committees such as Health and Safety Committee, and so on. How should a company best structure its governance of risk?

How can a company express its risk tolerance or appetite and communicate that internally and externally?

What are the lines of defence that a Board can rely on to ensure that the company’s risk management and internal controls are adequate and effective?

The answers to these questions, and more, are found in the Board Risk Committee Guide.

This definitive guide to risk management and internal controls for Boards and the Board Risk Committee (BRC) provides a comprehensive coverage of the regulatory and practical aspects of risk management. It is aimed especially at listed companies in Singapore. Its contents include:

  • Risk governance structures and a BRC’s role and responsibilities

  • The BRC calendar and agenda

  • The characteristics, types and categories of risk in a company’s risk universe

  • The elements of an Enterprise Risk Management framework for ensuring the adequacy and effectiveness of risk management and internal controls

  • The assurance framework needed to identify deficiencies and to prepare disclosures in risk management and internal controls

  • Disclosures related to risk management

The BRC Guide is produced with the support of resources from KPMG, and overseen by a review panel of leading practitioners and professionals in the corporate governance field. It is part of a series of Corporate Governance Guides that covers a Board and its major committees, and is produced by the Singapore Institute of Directors with the support of the Accounting and Corporate Regulatory Authority, the Monetary Authority of Singapore, and the Singapore Exchange.

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