Risk management procedures

Risk management advisory committee
Managing risk across the global organisation is an integral part of implementing the global strategy. The executive director – risk and regulatory matters leads these efforts, which include:

• identifying the risks inherent in the global strategy and developing policies and procedures that help address those risks and; 
• integrating risk management into each of the global practice areas and enterprise functions (such as marketing and information technology), as well as working with member firms to assist and support their implementation of the global risk management policies and procedures.

The risk management advisory committee is chaired by the executive director – risk and regulatory matters. Membership of the committee includes risk management leaders from a number of member firms, global leaders of practice quality control programmes and Grant Thornton special projects counsel. This committee makes recommendations regarding risk management policies and procedures to the Global Leadership Board.

Areas covered by the global risk management policies and procedures include independence, ethics, member firm client acceptance and client reacceptance, quality control and standard terms between member firms when servicing international engagements. Overall, there is a continuous focus on enhancing the risk management methodology.