by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
GRC Professional : GRC Autumn 2012
neWS 8 GRC Professional • Autumn 2012 Software provider Active Risk has launched a global survey into what makes a great risk career, examining why risk managers enter the profession, their educational background a nd prev iou s work ex per ience. The ‘What Makes a Great Risk Career?’ survey also investigates whether risk professionals are being supported by their organisations with formal training programs and clear career paths. Peter Rober t sh aw, Sen ior Vice President – Corporate Communications at Active Risk said: “Organisations need to focus on the career and training needs of their risk professionals if they want to retain and develop teams that can make corporate risk initiatives effective at improv ing profitability and performance.” Leighton Holdings fined for breaching disclosure provisions ASIC warned organisations to ensure complia nce with continuous disclosure requirements after Leighton Holdings was fined $300,000 for breaching the Cor porations Act 2001. Leighton was pena lised for failing to inform the market that a projected profit wou ld not be met after a downgrade in April pushed the company into a $427 million loss. “Compliance with continuou s d isclosu re provisions goes to the heart of ASIC’s priority of promoting fair and ef ficient markets,” said ASIC Chai r man Greg Medcr aft. “All listed companies should have procedure s in place to ensure that they comply with their cont inuous disclosure requirements.” Medcraft added that infringement notices are a timely a nd efficient remedy for dealing with some breache s of the continuou s disclosure law s to ensure confidence in the integrity of our markets. Leighton paid the three penalties of $100,000 each on 16 March 2012 in compliance with the infringement notices. As provided by the Act, compliance with the notice is not an admission of guilt or liability. have your say Risk professionals are invited to takepart in the research.Visit www.activerisk.com/career-survey. Results from the original ‘What Makes a Great Risk Manager?’ survey can be viewed here www.activerisk.com/risksurvey. What makes a great risk career? Governance, risk and compliance (GRC) prog rams will receive ongoing or increased funding in 2012, according to a survey of senior executives in Australia and New Zealand. “ The results show decision ma kers recog n ise that upf ront investment in GRC programs has a strong business case,” said ACI Managing Director Martin Tolar. The report, commissioned by IT security company RSA and carried out by researcher Ovum, found that 59 per cent of the 100 decision- makers surveyed plan to maintain their investment in GRC, while 34 per cent intend to spe nd more. Increased focus on GRC at boa rd level is lar gely re spon sible for the trend, states the report, with more than 80 per cent of GRC responsibility contained within the boardroom or invested in officers who report directly to the board. The research also found that there is a significant lack of appreciation of GRC requirements a mong employees, creating a worrying gap bet ween senior leaders who set policies and the staff who are required to comply, sa id Ovum’s sen ior ana lyst, i nf rastr ucture solutions, Andrew kellett. SGX proposes direct access framework The Singapore Exchange (SGX) is consulting the public on proposed rule changes to enhance the regul ator y framework for direct access to its securities market. The move is in prepa ration for the ASEAN Trading Link, which will prov ide brokers of participating ASEAN exchanges with the infrastructure to input orders directly on another participating exchange. SinGApORe Bridgecorp verdict The verdict in the trial of three former bridgecor p directors casts a spotlight on the conse quence s of breaching director duties. Rod ney Pet ricevic and Robert Roest were found guilty on charges of breaching the Crimes Act 1961, the Companies Act 1993, and the Secur ities Act 1978. Peter Steigrad was found guilty on charges of breaching the Secu r ities Act 1978. John Hawkins, Chairman of the New Zealand Shareholders A ssociation, said: “These were not the a ction s of people who were well meaning, but inept. Rather, there was deliber ate and knowing suppression of the problems facing bridgecorp for the express purpose of continuing to be able to extract funds from the public,” he sa id. GRC budgets to increase in 2012 neW ZeALAnd
GRC Summer 2012
GRC Winter 2012