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Majority of private companies do not have adequate risk management function |
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Over 67% of Indian private firms lack a sufficient risk management function and more than half do not possess formal risk management processes, according to a report by risk advisory firm MGC Global. A survey aimed at around 60,000 management and board-level professionals in a range of sectors found approximately 38% of public firms also had inadequate risk management practices.
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ICAC turns its eye to"Poor Corporate Governance" at Botany Bay Council |
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For the two years Mark Goodman was "given the key" to Botany Bay Council's business unit, the acting manager didn't access its account management system, didn't set a budget and never saw a financial statement – in fact, a corruption inquiry was told this week that he wasn't even qualified to read one. |
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