ETHICS, GOVERNANCE AND RISK

Terms of Reference

• To develop policies and programmes for implementation of best practice in corporate governance. Specifically, Council composition, skills, and succession planning; Conflict of interest policy; Performance evaluation of Council, Committees, and individual directors; Orientation and ongoing education for Council members; Risk management; Efficient and effective committees.
• To monitor ICAB’s risk profile and potential exposure to risks of various types.
• To periodically review ICAB’s policies and practices with respect to risk assessment and management and recommend improvements to Council.
• To consider, keep under review and make recommendations where appropriate to Council on all matters pertaining to ethics and professional standards, other than those relating to accounting and auditing matters.
• To liaise with the Investigations and Disciplinary Committees on the determinations of rules for the operation of the disciplinary process and to recommend accordingly to Council.
• To ensure the provision to members of the Institute and others of advice and/or information on the interpretation of professional standards.
• To review pronouncements by the International Federation of Accountants on ethical matters and to provide appropriate recommendations to Council on the adoption of any standards.