CFOs produce risk management guide - http://www.theage.com.au:
As investor scrutiny of AU public companies intensifies, chief financial officers of Australia's major enterprises have moved to strengthen their risk management processes.
A group of chief financial officers (CFOs) have released a comprehensive guide in response to Principle Seven of the Australian Stock Exchange Corporate Governance Council's better practice requirements, which relates to risk recognition and management.
The Group of 100 chief financial officers (G100), together with professional services firm Deloitte, said the guide, released on Wednesday, specifically outlines what companies should do in complying with Principle Seven.
G100 national president John Stanhope said the guide provided greater clarity as to the internal certification requirements for both chief executives and CFOs as well as company boards.
Mr Stanhope said that with CFO certifications under Principle Seven commencing from December 31, rapid adoption of the guide is imperative.
'The G100's guide will help by providing information and guidance to the relevant officers,' he said. "