Risk management skills for CPSEs -Governance Now

Risk management skills for CPSEs

Corporates should undertake risk management as a part of normal business practice and not as a separate task, says U D Choubey, DG, SCOPE

GN Bureau | September 23, 2013

SCOPE, in collaboration with Institute of Company Secretaries of India (ICSI) organized a workshop on corporate risk management in Delhi on September 21. It was attended by a large number of senior executives of CPSEs.

U D Choubey, director general, SCOPE said that in the rapidly changing economy, corporate sector is surrounded by an array of risks and risk taking has become an integral part of business activities. He informed that the government guidelines on corporate governance, which lays special emphasis on enterprise risk management, will help CPSEs achieving performance and profitability targets. He advised the corporates to undertake risk management as a part of normal business practice and not as a separate task.

Emphasizing on the necessity of risk management in India, Choubey said that Indian business has become more global in their approach of risk management through a broad based active and liquid foreign exchange market. Therefore, the need to understand forex risks and its mitigation has become imperative to protect a business from facing adverse situation, he added.

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