ACCA Pakistan organised two discussion forums last week on its recent research paper on 'Rules for risk management: culture, behaviour and the role of accountants', which is based on a survey of over 2,000 ACCA members from 109 countries. These discussion forums on risk management were held for the employees of Karachi Electric Supply Company Limited and Central Depository Company. Rehan Uddin, Head of ACCA Karachi, briefed the participants about the findings from the survey.
Arif Masud Mirza, Head of ACCA Pakistan emphasised the importance of making everyone in the organisation responsible for contributing to managing risks, which is the main idea behind integrated risk management. He pointed out that while some might think that the job of accountants is to produce accounts, their real value is in providing reliable information from which to make good decisions, and good decisions mean less risk.
The participants in the discussion forums also used the ACCA online 'risk health check', which is a web-based benchmarking and learning tool. Using this resource, these organisations were able to compare themselves to the findings and experiences of businesses from the survey, and identify areas for improvement.- PR