Managing risk from the front line
Why companies need to shift to first line of defence to manage risk
Regulatory requirements on good corporate governance and risk management are being tightened in Hong Kong. This is now a top priority for many boards.
The business world and the financial system have recently faced unprecedented shocks owing to the severity of the global economic crisis. And this situation has only highlighted the absolute need for quality corporate governance and the role of boards of directors as true representatives of the ultimate owners of a company.
What are the top-of-mind issues for directors of company boards? What keeps them up at night, and how are they reacting to the rapid changes in the environment? What are the current trends and key issues in corporate governance?
In 2017, we have carried out a second wave of our analysis followed a similar approach to that adopted in 2016 – we have included companies from the broader Hang Seng Index, the Hang Seng China Enterprises Index, as well as across four industries (i.e. financial services, real estate, retail and technology).
To assess the extent of implementation of corporate governance regulatory changes with the revised Corporate Governance Code from 1 January 2016, we recently hosted a number of seminars to clients in Hong Kong (28 July), Guangzhou (1 August) and Shenzhen (2 August) to brief our clients on key findings our second-year study of the corporate governance reports of 230 Hong Kong listed companies for fiscal year 2016. More details here...
A media briefing was held in June 2017 and (from left) our Risk Assurance Partner Eric Yeung, Cimi Leung and Kanus Yue were speaking to around 25 print and broadcast media. Please refer to the press release for more information.
Watch Internal Audit Services Partner Eric Yeung and PwC Experience Centre Partner Guy Parsonage talk about social media governance in today's business world.
There have been numerous changes to Hong Kong’s Corporate Governance Code that require companies to adapt quickly. Kanus Yue, Risk Assurance Partner, PwC Hong Kong, shares the findings to HKICS of a recent PwC study designed to assist listed companies to comply with the new requirements of the code. (Kanus' article on HKICS March 2017 issue)