@ the IERP® Global Conference, August 2023 Moderated by Dzafri Sham Ahmad, former INED, Bintulu Port Holdings Bhd, this session’s speakers were Aida Mosira Mokhtar, INED, MIMOS Bhd; Pankaj Bipinchandra, INED, OSK Ventures; and Yuzaidi Mohd Yusoff, INED, Petronas Dagangan and Prudential Malaysia. In his short overview, Dzafri cited some examples of where Boards did not do what they were supposed to, and the consequences of such actions. Today, Boards were under tremendous pressure to demonstrate their relevance when multiple forces threatened business, but could, simultaneously, create oppo ..read more

@ the IERP® Global Conference, August 2023 Presented by Dr Khoo Guan Seng, Advisory Board Member of the Singapore Economic Forum’s EU-ASEAN Centre, this session focused on the evolution of data. Data, said Dr Khoo, may be divided into two types: structured and unstructured (or alternative). Structured data is formatted data such as what is found in passports, airline tickets or identification, he explained. Unstructured or alternative data is usually found on social media – Zoom, WhatsApp, Youtube, Instagram etc. information from GPS instruments and satellites also qualify as unstructured ..read more

@ the IERP® Global Conference, August 2023 In this session, moderator Dzafri Sham Ahmad, former Non-Independent Non-Executive Director of Bintulu Port Holdings Bhd, was joined by three panellists: Datuk Noripah Kamso, Chairman, Arabesque Malaysia; Datuk Nik Hasyudeen, Non-Independent Non-Executive Director, Bank Islam, and INED, Petron Malaysia; and Aida Mosira Mokhtar, Independent Non-Executive Director, MIMOS Bhd. Together, they discussed the issue of ESG from the point Board’s perspective. Acknowledging that there were several trends that were triggering – and were triggered by – ESG, A ..read more

@ the IERP® Global Conference, August 2023 Presenter Nigel Morris-Cotterill, Financial Crime Risk and Compliance Strategist, gave a no-holds-barred session, telling the audience right from the outset that he was talking through them to the Boards, staff and shareholders of companies because there is an increasing trend to make officers liable for crimes committed in the names of companies and prosecute companies and staff for malfeasance. “There is a growing trend to blur the lines of mens rea – the intent to commit a crime,” he said. “You cannot convict a company, and for most crimes, the ..read more

@ the IERP® Global Conference, August 2023 Presentation Overview:  Max Lee, CEO of Pantas Software Sdn Bhd, delivered a focused discussion on the integration of technology with Environmental, Social, and Governance (ESG) strategies. He touched upon carbon accounting, its similarities to financial accounting, and the potential of technologies like AI, ML, IoT, and blockchain.   Carbon Accounting: Lee defined carbon accounting as measuring, managing, and disclosing a company’s greenhouse gas emissions using internationally recognized guidelines such as the Greenhouse Gas Protocol ..read more

@ the IERP® Global Conference, August 2023 Presented by Dr Ray Choy, Chief Economist, Economic Research Department, MARC, this session covered global economic growth and the economic outlook for Malaysia. Malaysia was recovering, Dr Choy said; GDP growth is forecast to strengthen from 4.2% in 2023 to 4.5% in 2024. However, global economic growth was expected to pick up only slightly in 2024, by about 0.1%, and inflation was expected to cool. While global interest rates have increased, major economies are expected to slow in the second half of 2023, although Asia’s slowdown is likely to be ..read more

@ the IERP® Global Conference, August 2023 The moderator for this session was Associate Professor Dr Au Yong Hui Nee, Dean of the Faculty of Business & Finance, UTAR. Panellists were Dr Ray Choy, Chief Economist, MARC Ratings Bhd; Prof Dr Geoffrey Williams, Provost of Research & Innovation, MUST; and Dr Mohd Afzanizam Abdul Rashid, Head of Economics, Market Analysis & Social Finance, Bank Muamalat. Economic downturns or major crises tend to occur every ten to 12 years but many forecasters nowadays are considering more seriously the risks of greater economic slowdown caused by t ..read more

The Objective-Centric (OC) – identifying risks in relation to objectives – approach to risk is recommended by both ISO 31000 as well as COSO 2017 and represents current best International practice. COSO 2004, however, prefers the Taxonomy approach (identifying risks in relation to definitions). The OC approach and Taxonomy are diametrically opposite and incompatible from a risk identification perspective. The OC system is more practical than the taxonomy approach and focuses the organisation on achieving organizational objectives rather than just identifying “risk” from an academic and theore ..read more

The term GRC usually references a system used by organisations to structure governance, risk management and regulatory compliance. GRC is intended to help organisations align performances activities to business goals while managing risk and meeting compliance regulations, navigating uncertainty and maintaining integrity.Strengthening such processes improves business performance and sustainability. Governance is necessary for the setting of direction through strategy and policy; monitoring performance and evaluating outcomes. Risk – or risk management – ensures the identification of what may p ..read more

Corporate Governance (CG) generally refers to the system of rules, practices and processes by which companies are governed. This includes the rights and responsibilities of all the entity’s stakeholders, and is aimed at ensuring that the interests of everyone – shareholders, management, employees, suppliers, customers etc – are protected. The board is responsible for ensuring that the company is guided by the appropriate CG rules and policies; these are based on four principles: accountability, transparency, fairness and responsibility. In today’s business environment, however, CG has become ..read more