Some caricatures on a chess board

Author Archive | Garry Honey

Rehabilitating risk

Ten years  on from  the financial crash of 2008 and the corporate world pays much more attention to risk and governance than it did a decade ago. Regulators around the world now require more thorough reporting of risk, as warning of potential future disruption. Nevertheless we still see catastrophic collapses like Carillion earlier this year, […]

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What makes a better board?

How do you identify if your board is as good as it could be? After all you are a  group of talented individuals sharing collective responsibility for stewardship and shareholder return. If  you are governance compliant and delivering a dividend then what more could you be doing? There are three key attributes that distinguish a […]

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Why boards fail to address risk

Does your board spend as long debating risk as it does strategy? Both are estimates of opportunity and threat in an unknown future environment. Both require sound judgement and a keen  appreciation of where the organisation is headed, yet there is ample evidence that many boards see risk only through the lens of business continuity, […]

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Collective responsibility: boards and governance

Hot on the heels of the Carillion collapse comes the Oxfam crisis, both examples of poor governance but seemingly with little else in common. Carillion was a failure of a corporate finance and Oxfam a failure of NGO morality, each in different worlds  run by management boards with widely differing skills & experience.  The common […]

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Five key lessons for boards from the Carillion collapse.

The sudden collapse of a business like Carillion has raised questions about financial reporting controls, auditor vigilance and exactly who should have acted sooner. The government is embarrassed by exposure to public infrastructure projects across several departments, while many smaller sub contractors will never be paid for work  they’ve done. The board of Carillion must […]

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Boards & Risk – improving risk literacy in the boardroom?

Executive boards have a responsibility for good governance and responsible stewardship, yet persist in treating risk as a control function, not a decision process. A board is required to take collective responsibility for the organisation’s risk appetite, yet in most board meetings risk is treated as the privileged domain of the Head of Risk, or […]

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