Despite reforms introduced after the Financial Crisis, the “turmoil” of 2023 shows that capital buffers and added liquidity don’t compensate for risk governance weaknesses, to include those driven by culture and the conduct it promotes. Better tools, and metrics, are needed to proactively assess culture risk governance efficacy, and are key to managing financial and non-financial risk successfully.
Observations
Dec 19, 2024According to a letter received by The Australian under a "Freedom of Information" request, the Australian Prudential Regulation Authority (APRA) criticized ANZ's handling of non-financial risks just one day before the regulator announced a $250 million increase to the bank's operational risk capital add-on in August.
by Amy Edmondson, Gillian Tett, Jamie Fiore Higgins
Video
Dec 04, 2024Observations
Aug 21, 2024Yesterday, Nigeria's Financial Reporting Council (FRC) hosted its inaugural Audit and Assurance Providers' Leadership Summit. In his keynote address, FRC CEO Dr. Rabiu Olowo announced that the regulator was taking steps to be more proactive in improving audit quality and preventing fraud.
Compendium
Jun 11, 2024