The ROGB develops guidance materials for boards of directors and senior officers on enterprise risk oversight, not risk management. Its goal is to offer unique support for directors to support management's activities. Twelve years ago, it began publishing the 20 Questions series, which addresses important subjects for directors by posing concise and practical questions. A brief summary and recommended practices are provided for each question. In 2012, it published A Framework for Board Oversight of Enterprise Risk to support management frameworks and provide a prescriptive approach. Feedback from directors was very positive that it was a unique and usable resource, while risk managers wanted it to provide more support. The ROGB aims to support international risk oversight efforts and ensure its director materials are aligned with risk

1. CPA Canada Risk
Oversight and
Governance Board
Role in Risk
GIGI DAWE.
PRINCIPAL, GOVERNANCE, STRATEGY AND RISK

2. Role of CPA Canada’s ROGB in Risk
•
Chartered professional Accountants of Canada, through its
Risk Oversight and Governance Board (ROGB), develops
guidance materials for boards of directors and senior
officers
•
As such, our focus is on the oversight of enterprise risk, vs.
risk management.
•
Our goal is to offer unique support specifically for directors
that supports the activities of management

3. Role of CPA Canada’s ROGB in Risk
•
Twelve year ago the ROGB began the 20 Questions series
for directors – concise, practical guidance
•
The 20 Questions series address subjects important to
directors by posing questions that directors may ask of
management, advisors, or themselves
•
A brief summary of current thinking and some
recommended practices are provided for each question

4. Issues
• Insufficient time spent on risk oversight – and on
risk management
• Limited knowledge of the organization and risks
associated
• Lack of clarity – board / management role
• Limited knowledge of finance
• Excessive reliance on management / few advisors
• No system in place to manage risks or to
communicate them to the board

5. Role of CPA Canada’s ROGB in Risk
• In 2012 the ROGB published A Framework for Board
Oversight of Enterprise Risk – a slightly different, more
“prescriptive” approach
• Intended to support management use of COSO, ISO-31000 or
other
• Feedback from directors – very positive – unique, usable, new
• Feedback from risk managers – “keep out” – made changes
for more support

6. Risk Oversight Framework
• Oversight of the risk management systems and processes
by the board including continuously reviewing both the
planning and outcomes of such processes.
• Propose the board needs to play a more active and direct
role in the oversight of risk
• Boards need to much better understand their role

7. Where are we going?
• Like this group we want to support international efforts and
provide CPAs a picture of international initiatives
• Want to ensure that any director materials are aligned with
risk management
• We will vary delivery methods