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Risk Management and Corporate Governance

image of Risk Management and Corporate Governance

This sixth peer review of the OECD Principles of Corporate Governance analyses the corporate governance framework and practices relating to corporate risk management, in the private sector and in state-owned enterprises. The review covers 26 jurisdictions and is based on a general survey of all participating jurisdictions in December 2012, as well as an in-depth review of corporate risk management in Norway, Singapore and Switzerland.

The report finds that while risk-taking is a fundamental driving force in business and entrepreneurship, the cost of risk management failures is often underestimated, both externally and internally, including the cost in terms of management time needed to rectify the situation. The reports thus concludes that corporate governance should ensure that risks are understood, managed, and, when appropriate, communicated.

English

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Singapore: The corporate governance framework and practices relating to risk management

This chapter, part of the sixth peer review based on the OECD Principles of Corporate Governance, summarises the corporate governance framework and practices relating to corporate risk management in Singapore, with a focus on Singapore’s recently adopted Risk Governance Guidance for Listed Boards. The chapter was prepared by the OECD Secretariat (Akira Nozaki and Winfrid Blaschke).

English

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