SHS Web Conf.
Volume 34, 2017The 17th Annual Conference of the Asian Academic Accounting Association (2016 FourA Conference)
|Number of page(s)||4|
|Section||Corporate Social Responsibility|
|Published online||14 February 2017|
The Role of Board of Directors in the Establishment of Risk Management Committee
Tunku Puteri Intan Safinaz School of Accountancy, Universiti Utara Malaysia, 06010, Sintok, kedah, Malaysia
* Corresponding author: email@example.com
The objective of the study is to discuss the roles of board of directors in the establishment of risk management committee for Malaysian’s public listed companies. In Malaysia, based on the Malaysian Code on Corporate Governance (MCCG), (2007; 2012) clearly stated the role and responsibility of the board of directors toward the risk management activities. At the Corporate Governance Week 2010 and 2011 as well, the chairman of the Security Commission Malaysia highlighted the responsibility of the board of directors in risk management processes and she expressed concern over the failure of the board of directors to establish appropriate measures for the risk management process in the company. The statement of the chairman of Security Commission Malaysia is in line with MCCG’s best practices (2000; 2007; 2012), i.e., the board of directors should identify principle risks and ensure the implementation of an appropriate system to manage these risks.
© The Authors, published by EDP Sciences, 2017
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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