acca-重新思考未来的风险（英）-2021.7_70页_6mb

Summary of Rethinking Risk for the Future

Core Content

This document, Rethinking Risk for the Future, is a report by ACCA (Association of Chartered Certified Accountants) that explores the evolving role of accountants in risk management, particularly in the context of the global pandemic and the increasing focus on sustainability and ESG (Environmental, Social, and Governance) issues. It highlights how the profession is adapting to new challenges and how accountants can contribute to shaping a more resilient and sustainable future for organizations.

Main Views

• Risk Management is Evolving: The pandemic has shifted the focus of risk management from traditional financial and operational risks to a broader, more integrated approach that includes sustainability and ESG factors.
• Accountants as Risk Champions: Accountants are increasingly being seen as key players in risk management, not just as record-keepers but as advisors, analysts, and strategists who can help organizations prepare for uncertainty.
• New Risk Paradigm: The report emphasizes the need for a risk-conscious culture and the importance of integrating ESG into business strategy and decision-making.
• Data and Analytics are Critical: High-quality data interpretation and predictive analytics are vital for identifying and managing risks effectively in the digital age.
• Strategic Risk is Key: The report highlights that strategic risk, often overlooked, is a major contributor to corporate failure and needs to be prioritized.
• Global Collaboration and Leadership: ACCA is working with global partners to lead the profession in addressing complex and existential risks, especially in the context of climate change and digital transformation.
• Role of Accountants in the Future: The profession is urged to shift from a risk-averse mindset to one that actively promotes sustainable value creation and long-term thinking.

Key Information

1. A New Dawn for Accountancy

• Importance of Data and Interpretation: Accountants must synthesize internal and external data to support strategic decision-making.
• Scenario Analysis and Predictive Analytics: These tools help organizations anticipate risks and opportunities, especially in the context of climate change and digital disruption.
• Case Example: Merina Abu Tahir, CFO at Lembaga Tabung Haji, highlights the importance of data-driven insights in managing risk during the pandemic.

2. ERM's Evolving Doors

• Beyond Reporting: Risk management now involves using data to plan for the future and adapt to new realities.
• Integrated Thinking: Accountants should help organizations adopt a more integrated approach to risk, considering its impact on all stakeholders.
• Strategic Risk: James Lam's research shows that 60% of corporate value loss is due to strategic risk, which is a result of poor decision-making and misalignment with long-term goals.

3. Governance in the Risk Galaxy

• Risk Appetite and Culture: Organizations must define their risk appetite and foster a culture where risk is a central part of decision-making.
• Board Composition and Diversity: A diverse board with varied perspectives is essential for effective risk governance.
• Risk Monitoring as a Continuous Process: Risk monitoring should be an ongoing, enterprise-wide activity rather than a one-off event.

4. Operational Resilience and Emerging Risks

• New Risk Landscape: The pandemic has exposed new risks, including third-party risks and digital vulnerabilities.
• Proactive Risk Identification: Accountants must use predictive analytics and scenario planning to detect risks before they materialize.
• Adaptation and Innovation: The ability to adapt and innovate is crucial for maintaining operational resilience in a fast-changing environment.

5. Industry-Centric Risks and Opportunities

• No One Size Fits All: Each industry faces unique risks and opportunities, and risk strategies must be tailored accordingly.
• Global Risks: Organizations must not ignore global risks such as climate change, digital disruption, and social inequality.
• SMEs and SMPs: Smaller organizations need to rethink their risk approaches, focusing on visibility and alignment across departments.

Conclusion

The report concludes that the accountancy profession has a unique opportunity to lead the way in rethinking risk and fostering a sustainable, risk-conscious culture. It emphasizes the need for accountants to not only measure and report risks but also to influence organizational behavior and strategy to address the complex and interconnected challenges of the future.

Key Figures and Insights

• Michele Wucker introduced the concept of the "gray rhino" to describe high-probability, high-impact risks that are often ignored.
• James Lam identified strategic risk as a critical area where accountants can add value, especially in the context of ESG integration.
• Merina Abu Tahir highlights the importance of data-driven insights in navigating the pandemic and beyond.
• Professor Mervyn King argues that accountants have the skills to lead the transformation of corporate reporting and promote value creation over short-term profit.

Professional Competencies

ACCA outlines several key competencies that accountants should develop to address future risks:

• Ethics and Professionalism
• Advisory and Consultancy
• Audit and Assurance
• Corporate and Business Reporting
• Data, Digital and Technology
• Financial Management
• Governance, Risk and Control
• Leadership and Management
• Management Accounting
• Stakeholder Relationship Management
• Strategy and Innovation
• Taxation

Final Note

The report calls for a transformational approach to risk management, where accountants play a pivotal role in rethinking how organizations identify, measure, and manage risks. It underscores the importance of integrating ESG into business strategy and fostering a culture of transparency, accountability, and long-term thinking.