Are we on track to getting them right

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Are we on track to getting them right?
Regulation, Compliance, Governance Risk
Management -
Arnold Niranjan Pria Narinesingh Partners,
Ernst Young
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Regulation Compliance
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What we discussed

• The New Regulatory Climate
• Trends in the Regional Financial Services Sector
• What do these trends tell us?
• Regional Regulatory Developments
• Responding to the challenge

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Corporate Governance Risk Management
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What we discussed

• What does effective corporate governance mean?
• Corporate governance includes embedding risk
  management
• What is the current state?
• Adopting an established controls framework
• The importance of independently assessing
  internal controls.

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What was raised?

• The external auditors relationship with clients
  has changed - Different boundaries have been
  established
• In small societies there is a limited pool of
  talent to draw from for Director appointments
• Significant costs are attached how do you
  prioritize?

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What was raised? (Contd)

• Companies can become consumed with form filling
  vs really implementing effective governance
  practices
• Will there be rotation of auditors and how will
  transition be managed?
• There is a thin line between effective corporate
  governance and interfering in managements role.