Risk governance in integrated reporting by South African listed banking entities

M.Com. (Computer Auditing)Sufficient integrated reporting on risk governance is dependent on the actual risk governance strategies employed by South African-listed banking entities. Proper risk governance strategies are based on a clear understanding of the risk governance universe which influences such strategies. The elements of such a risk governance universe should incorporate aspects of risk management, information security management, Information Technology governance and management, Business Continuity Management and crisis management. In addressing these elements, a clear understanding is necessary of the principles of good corporate governance, as stipulated in the King Report on Governance for South Africa. This can then be supported with international best practice guidelines on all the subcomponents of the risk governance universe. These elements thus form the reference against which risk governance practices can be deployed to control risk factors. This involves the identification, measurement and mitigation of unwanted risk exposure, which is, in turn, dependent on the manner in which risk management plans have been applied throughout the different levels of employment in South African-listed banks