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ACCA Integrated Report 2016 Our risks and their management


Our risks and their management

We actively manage a range of risks to the achievement of our Strategy to 2020, with 14 risks held on our corporate level risk register.

ACCA’s Audit Committee provides oversight of these risks including reviewing the effectiveness of ACCA’s risk management process and approach and receiving ‘deep dive’ reviews of specific corporate level risks on a rolling basis. Each corporate level risk is ‘owned’ by a member of the Executive Team who manages it on a day-to-day basis with the entire Executive Team reviewing all corporate level risk every month to reflect any market, legislative and/or operational developments and adjusting mitigation and threat levels accordingly.

Change to our corporate risk profile in 2015–16

As a result of the detailed work we conducted to assess corporate level risk against our Strategy to 2020 when it was implemented last year, there have been minimal changes to our risk profile in 2015–16. In line with our stated vision, we remain committed to a bold and innovative approach to market development, so that we can maintain our reputation for skills and demand responsiveness. Because the integrity of our qualification is at the heart of our brand, our corporate-level risks have a strong focus on minimising threats to the standing and value of the ACCA brand, and we have a low tolerance of risk in this area.

Risk appetite definitions

Hungry: eager to be innovative and choose options offering potential higher rewards, despite greater inherent risk.

Open: willing to consider all potential options with a bias towards options likely to prioritise the certainties of successful delivery over potentially high reward strategies.

Averse: preference for safer options which have a lower level of residual risk but which may have more limited upside potential.