A risk challenge culture

This report discusses the elements of a risk challenge culture. It draws on discussions from the ACCA–IMA Accountants for Business Global Forum and insights from ACCA–IMA roundtables held in Dubai, London and New York City in late 2013. In these sessions, the participants discussed the following essential elements of a risk challenge culture: professional scepticism and board oversight of risk; board diversity and expertise development in enterprise risk management (ERM); conversations and roles in a risk challenge culture; information asymmetry and risk reporting; decision making and cognitive biases; risk culture – assessment, diagnostics, and signs; risk appetite; strategy and risk; and incentives and risk.

Length of Resource
28 pages
Paul L. Walker, William G. Shenkir, Thomas L. Barton
Date Published
Publication Type
Resource Type

ResourceID: 142354

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