Reputation is everything, and as we contemplate life beyond COVID crisis management, executives from Risk Consulting firm Kroll have been considering a range of contemporaneous risks that should be on every board’s agenda… and how failure to consider them can impact a company’s corporate reputation.
Typically, both financial and non-financial risks are on the radar and whilst many of them are not new, the extent to which external stakeholders are interested (in the non-financial risks in particular) has risen dramatically.
Areas to be considered during a series of three webinars will include:
- External threats: Branding and Social Media; Organised crime; Internet-based allegations and related attacks.
- Internal threats: Financial misstatement; A lapse control environment: Compliance beyond bribery and corruption.
- Emerging threats and opportunities: Supply chain and human rights; Information management and data protection; Other threats and opportunities on the horizon.
Relevant risks, in a materiality sense, are broadening in scope and shareholders want much more discussion initially, with both the key executives (the CEO/FD) and also with the NEDs. However, there is often a perception that day-to-day controls executed by executive management are in place, when in fact the controls are not tested and when a crisis hits unexpectedly, they prove to be not fit for purpose.
The first session focused on the ‘external threats’ will be led by Graham Durgan, Chair at NEDA, and will consider the views and insight from Zoe Newman, Managing Director, Co-Head of Financial investigations and Neil Kirton, Co Regional Managing Director EMA, both from Kroll Business Intelligence and Investigations; Ryan McSharry, Head of Crisis and Litigation, Infinite Global and Alla Bashenko, Portfolio NED, who will provide some practical feedback on how boards are coping in the current environment.
To book your place at this webinar please click here.