BOARD GOVERNANCE RISK ASSESMENT

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Elements of BOARD GOVERNANCE RISK ASSESMENT :

Area of Critical Risk

Description of Planning, Mitigation Activities and Control by Management

Governance comments from the Board of Directors

Example for explanatory use:


”The Company”

BOARD GOVERNANCE RISK ASSESMENT

Date: ___________________

The Board of Directors have on the above date commented on the below risk assessment carried out by the management in “The Company”.

Area Description of Planning, Mitigation Activities and Control by Management Governance comments from the Board of Directors
Liquid Management ”In what way is the liquid management carried out in the company in respect of planning, execution and control?”   “Sufficient or need of specific improvements”
License to operate “Describe the present LTO and how this is maintained”    
Profit Generation   “How is the company’s ability to generate profit, planned, evaluated and reported?”
Critical Competence   “Is there any competence (or persons) that are critical for the continued operation of the company, what steps are taken to secure the competence/persons, and what to do in worst case?”  
IT failure   “Backups, hacks and hardware, what are the steps taken and the process of securing ongoing business?”  
Accounting and Statements “How do we plan the process of accounting control and do we follow the guidelines our auditor states?”
CSR/HSE “Do we take measures to act responsible to the internal and external environment, both with respect to social responsibility and fulfilling the health and safety regulations?”  
Insurance   “How do our insurance cover us and where are we not able to uphold full coverage?”  
Competitive situation “Are there any specific risks of loosing IP or confidential knowledge, and how is this handled internal and external?”  

“The Company”

(Signed by the)

CEO   & Chairman of the Board


Principle:

Management identify the Risk Critical to the company and it’s stakeholders. The Board of Directors are to approve and comment on how management will plan, execute and control risk management.


Issues:

What are the areas of risk in the company

How to evaluate Likelihood and Impact on the company


Applications:

Yearly Governance of Risk Management on board meetings


Source of BOARD GOVERNANCE RISK ASSESMENT :

johnsohn.dk

File name : BOARD-GOVERNANCE-RISK-ASSESMENT.pdf