The economic crisis, proposed governance reforms and contingent commissions dominated the Ferma Directors' discussion
As might be expected, the economic crisis dominated the first part of the discussion. It was agreed that while most risk managers do not have an active role in board decision making, they can bring clarity and ensure that boards understand the risks and the implications for the business.
Participants spent time discussing the possible effects of proposed corporate governance reforms and the new risk management standard, ISO 31000. Although certification of compliance with the latter is not being introduced with publication of the standard, some felt it was on the horizon.
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