Governance & Oversight Services

Organisations need to be prepared for the significant overhaul in the UK's Corporate Governance Code that the Financial Reporting Council (FRC) is proposing to legislate. The plan is to strengthen director responsibilities for governance, internal control, and corporate reporting, including auditing to restore trust in big firms and prevent further corporate scandals as outlined in its position paper.  The revised Code is expected to apply to periods commencing on or after 1 January 2024 to allow for sufficient implementation time. Consultation on a revised Code and supporting material will begin from Q1 of 2023. 

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Arkjoy Risk Consultants can provide significant support for your organisation by advising on the effective governance & oversight and risk and control frameworks to achieve your strategic objectives and meet compliance mandates. Our services Include: 

• Reviewing or creating a fit for purpose Risk Management Framework

• Reviewing or advising on the appropriate governance framework, including committee structures and operational structures (three lines of defence)  

• Documenting or reviewing roles and responsibilities 

• Reviewing or documenting terms of reference for board and executive risk committees

• Governance compliance and best practice reviews using a checklist approach 

 

Benefits of our Governance and Oversight Services Include:

• Make better decisions on risks to exploit and those to minimise

• Get buy-in from across the business and drive a risk-aware culture

• Improve risk profile monitoring and reporting capabilities to assist risk committees and board in discharging their risk oversight responsibilities

• Improve the firm's internal control environment

• Better align with peers and industry standard 

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​We will be pleased to have an initial meeting with you, free of charge, to discuss which governance compliance reviews may be appropriate for your business.  At the end of our review, you will be presented with a set of written findings regarding any areas of actual or potential noncompliance, and our recommended steps for remediation.