Business Daily from THE HINDU group of publications
Saturday, Sep 16, 2006
ePaper
Business Daily from THE HINDU group of publications Saturday, Sep 16, 2006 ePaper |
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Markets
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Stock Exchanges Our Bureau
Mumbai , Sept. 15 The Bombay Stock Exchange (BSE) in association with Ernst and Young on Friday announced the launch of Mastering Risk series. The series is an attempt to identify various aspects of risk companies are exposed to and the importance of risk management initiatives. Mr G. Anantharaman, Whole Time Member, Securities and Exchange Board of India (Sebi) inaugurated the series. "Risk is pervasive in all situations. To mitigate risk, companies should anticipate contingencies, share risk, create reserves, diversify and select the right people," said Mr Anantharaman during the inauguration. Mr Sunil Chandiramani, National Director, Risk and Business Solutions, Ernst and Young, discussed the investors take on risk through the survey they conducted. "With the increasing level of uncertainty in our business environment and more organisations raising equity capital in India, both institutional investors and private equity players are insisting upon a clear articulation of risks from their investee companies. Clearly, risk management is now beginning to be recognised as a fundamental enabler for an organisation's future growth," said Mr Chandiramani. The survey concluded that investors demand better transparency, accountability and communication on risk management from companies. Mr Chandiramani added, "After facing major business failures in the past, investors across the globe are asking more questions on risk. They are not ready for any surprises on this issue and they will dictate the course taken by companies on managing risk. The series will span focus on themes like Operationalising Enterprise Risk Management, Role of Internal Audit in Corporate Governance, Managing Treasury Risk and Clause 49 and Risk Management - Maximising benefits of compliance initiatives. The series will be held till January 7, 2007.
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