The ISCA-KPMG study, “Driving Value: Risk Transparency and Culture” is a time-based study to observe the risk governance disclosures of over 200 Singapore-listed companies. The study analysed disclosures found in annual reports relating to board risk governance, risk management capabilities and structures, risk management practices, internal audit and fraud risk management. Interviews with independent directors and leading risks practitioners were also conducted.
The report, titled ‘Driving Value: Risk Transparency and Culture’, follows a similar study conducted in 2013. Key findings of the study on risk governance disclosures conducted by the Institute of Singapore Chartered Accountants (ISCA) and KPMG in Singapore, which is supported by the Singapore Exchange (SGX). The 2016 Study revisited the 2013 Study focus areas and includes new areas relating to risk tolerance, risk policies, risk culture, risk types and fraud risk management.