Closer Look at Thought Leadership Conference Hosted By ACCA
The main theme ACCA’s (the Association of Chartered Certified Accountants) thought leadership conference is - The role of fresh thinking in company governance and risk management and how to protect the business from global recession.
The conference primarily focused with four key points. They are –
- Creating value through governance
- Risk reporting
- Channeling corporate behavior and
- Accounting for uncertainty
The ACCA expecting inputs from the participants and it ensures the organization MUST work on those areas to make robust and relevant business practice. According to Paul Moxey, Head of the Corporate Governance and Risk Management, ACCA: ACCA is the leader of corporate governance research and risk management and ACCA strongly encourage better understandings by the boards, executives and other members about how proper governance can create great values and how culture affects decision making processes. He mentioned: the conference club together both the aspects.
The first half of the conference discussed about the recent consultation paper named “Creating Value through Governance towards a new accountability”. In this session, the speakers discussing about corporate governance and its vital role to societies and economics and how governance helps people to take proper decision.
On the other hand, the speakers discussed about mismanaged risk and its impact. Undoubtedly mismanaged risk is one of the key factors responsible for global financial meltdown. At this conference, the speakers discussing about better risk management assessment process and reporting in order to ensure the business success. The major part of the participants admit that, risk reporting is an integrated part of governance. ACCA assures that, I is committed to helping organizations for better risk management and reporting as well as help them during decision making.
Last but not the least, the speakers mentioned that: a healthy culture is responsible for good governance and risk management. In addition, healthy long term corporate performance completely depends on the healthy culture. As a proof of concept, they represent the example of the poor documentation process of some public and private sector companies.The last part of the conference provides a comprehensive exposure on uncertainty in a company balance sheet (including assets and liabilities).