ACCA - The global body for professional accountants

Risk and Reward


ACCA's conference took place March 2014 and looked at four areas: creating value through governance, risk reporting, corporate culture and behaviour and accounting for uncertainty.

"ACCA is committed to taking a lead on researching corporate governance, including risk management, and culture. We want to encourage better understanding by boards, executives and others of how governance can help create value and of how culture affects decision processes. The conference brought these themes together."

Paul Moxey, Head of Corporate Governance and Risk Management at ACCA


The conference aimed both to inform attendees about, and seek their input on, ACCA’s work in four areas – creating value through governance, risk reporting, corporate culture and behaviour and accounting for uncertainty – and to ensure it is robust and relevant to business.

To do so, the Chartered Institute for Securities & Investments (CISI) provided cutting-edge voting technology used to assess the audience’s opinion on all the subjects presented at the conference. This will greatly inform advanced research and ACCA is very grateful for the opportunity offered by CISI. 

Creating Value Through Governance – towards a new accountability

In February 2014, ACCA published a detailed consultation on governance and value creation, introducing new tools to enhance risk management and companies’ performance. Comments are open online until 31st of August and a follow-up paper will be issued at the end of 2014.

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Reporting on Risk

Evidence from recent corporate failures have shown that both risk management and risk reporting are in need of significant improvement. Companies are inherently wary about disclosing sensitive or unmanaged risks and reporting has become a box-ticking exercise. Based on monthly interviews, this project examines the future of risk reporting.

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Channelling Corporate Behaviour

Launched in collaboration with UK’s Economic and Social Research Council (ESRC), the project investigates the role of organisational culture in channelling functional behaviour. An online survey reflecting the most pressing issues raised during a series of national and international roundtables, is open for completion and a final report will be published in June 2014.

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Accounting for Uncertainty 

In a company balance sheet, many of its assets and liabilities cannot be known to the level of accuracy implied by what are typically four significant digits used to state amounts. What can be done to help audit committees fulfil their obligations to consider whether financial statements are ‘fair, balanced and understandable’? A draft discussion paper was presented.

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Published: 11 Apr 2014