ASIC report: ASIC releases report on director and officer oversight of non-financial risk ASIC podcast Interview with Suneeta Sidhu, the team leader of ASIC’s Corporate Governance Taskforce. “when we speak about non-financial risk, we speak about operational risk, conduct risk and compliance risk” Concepts discussed information flows board risk committees
Non-financial risk (NFR) refers to the potential for losses arising from factors other than financial. These risks can come from a variety of sources, including failures in operational processes, environmental or climate issues, cybersecurity and regulatory changes. Managing non-financial risk is crucial for maintaining the overall stability and reputation of an organisation. Overview of non-financial risks (CA ANZ) Non-financial risks include (but are not limited to): environmental risks (including climate-related risk) social risks (including understanding changing social norms) supply chain transparency and other supply chain risks health and safety risks technology risks (including business continuity) cyber security risks and data privacy breaches compliance failure misconduct – Guide to non-financial risks, CA ANZ ...