An integrated approach requires CAs to be cognisant of risk assessment and mitigation strategies
The global economy has gone through a turbulent time in the last few years, with financial crises, trade wars, and rising economic protectionism. The growing use of technology has added to the complexity and created a tectonic shift in business operations, communication, and security leading to new challenges that include societal, political, economic, and cyber risks.
Beyond conventional roles
As a result, the role of a Chartered Accountant (CA) has also moved from traditional financial reporting to strategic decision-making. CAs are entrusted with guiding organisations through risks and helping build robust and resilient businesses. Consequently, many CAs are now focusing on building their Enterprise Risk Management (ERM) skills.
Today, CAs often work across a range of risk-related functions from risk consultancy to enterprise-wide risk management advisory and risk-based audit. Even in a traditional role, their functions often overlap with typical risk management functions, such as ensuring legal compliance. The widening ambit of a CA’s role comes from the shift in financial…
