🔖 Risk committee terms of reference
A risk committee terms of reference covers the identification and assessment of risks to the company, as well as the development of policies and procedures to mitigate those risks. It also provides guidance on how the company should respond to risk events.
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Risk Committee Terms Of Reference (AIM Listed Company)
The template highlights the legal requirements and best practices for establishing and operating the committee, ensuring that it aligns with the laws and regulations governing AIM Listed Companies in the United Kingdom. It outlines the committee's purpose, objectives, and composition, explaining the membership criteria, qualifications, and expertise required for its members.
The document details the committee's scope and authority, emphasizing its role in identifying, assessing, and monitoring various risks faced by the company. It delves into the committee's responsibilities in evaluating the effectiveness of the company's risk management policies, procedures, and internal controls, as well as providing guidance on risk monitoring and reporting systems.
Additionally, the template establishes the committee's relationship with other key stakeholders, such as the board of directors and senior management, defining the lines of communication, reporting mechanisms, and escalation procedures. It emphasizes the provision of regular reports and updates to the board, ensuring active engagement and visibility of the committee's work.
Furthermore, the template covers the committee's meeting procedures, including frequency, quorum requirements, agenda setting, and minutes documentation. It promotes the establishment of robust meeting practices and the availability of resources, such as external advisors, to support the committee's activities.
Overall, the Risk Committee Terms of Reference template aims to offer a robust framework for AIM Listed Companies to establish an effective risk management structure, enabling them to proactively identify, assess, and mitigate risks, ultimately enhancing their overall corporate governance and compliance practices.
Publisher
Genie AIJurisdiction
England and WalesAssociated business activities
Risk committee terms
Risk committees help organisations identify, assess, and manage risk. They provide a forum for discussion and debate about risk and help ensure risks are appropriately managed.
Risk Committee Terms
Risk Committee Terms of Reference can help improve a committee's efficiency and transparency, and communication with other stakeholders.
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