PO4 - Governance, risk and control
You contribute to effective governance in your area.
You evaluate, monitor and implement risk management procedures, complying with the spirit and the letter of policies, laws and regulations.
Performance objective elements
The five elements of each performance objective describe the tasks, skills and behaviours that trainees must demonstrate in order to achieve the objective.
a. Provide and present information at the appropriate time to comply with organisational requirements and external regulation.
b. Operate according to the governance standards, policies and controls of your organisation. You also review your work and your colleagues' work to make sure it complies.
c. Evaluate and identify areas of risk - assessing the probability of fraud, error and other hazards in your area of responsibility, and the impact they would have.
d. Assess the risk of failures in the internal controls and procedures in your area of responsiblity.
e. Consult with stakeholders and specialists, communicating with them to solve problems and reach conclusions.
Governance, Risk and Control
A. Evaluates organisational structures and governance to protect the long-term interests of stakeholders.
B. Recommends appropriate strategies to ensure adherence to governance structures and application of best practice internal controls.
C. Identifies and manages risk appropriately.
D. Uses risk management for the best interests of an organisation and its stakeholders.
E. Monitors and applies relevant legislation, policies and procedures.
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