Corporate Governance · glossary
The company's list of the main risks it faces and who watches each. The Audit & Risk Committee reviews it before it goes to the board, which reviews it at least once a year (Schedule A, item 13). Charter §9.1 · Schedule C, paragraph 4 · Chapter 2 · Chapter 7
Explained in Chapter 2, Matters Reserved and Delegation, of Corporate Governance.
The machinery items keep the board's own house in order. The risk appetite statement says which risks the company will accept, and the risk register lists the risks it faces. Terms of reference are a committee's written rules. D&O insurance pays a director's legal costs and damages if she is sued for what she did in office.Read Chapter 2, Matters Reserved and Delegation →
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