A comprehensive understanding of 'sustainability' or 'green' audit theory and practice requires a... more A comprehensive understanding of 'sustainability' or 'green' audit theory and practice requires a commonly accepted definition for what 'sustainability' means. Knowing about sustainability in a genuine sense requires a mindset that recognises the inherent complexity of nature and that all human endeavour is dependent on nature's inherent ability to sustain life. In contrast, the audit profession grew out of the financial accounting profession, which has traditionally defined accountability in narrow terms. Models of accountability in a social context have developed through government policy and collective action. There have been major innovations in sustainable finance and major shifts in investor behaviour towards sustainable investing. Progressive governments are shifting to an economics of wellbeing, which incorporate sustainable development as a major dimension of progress. Top-down development of accountability systems has resulted in an 'explosion of audit' services. Despite this, audit services are limited as instruments of social control, act 'after the fact' and operate within narrow scopes of accountability. It is highly likely that 'top down' progress in systems of accountability may not be sufficient to address the extreme risks posed by the nexus of climate change, political volatility, and technological complexity. To be effective in their core purpose, audit professionals must go beyond a reductionist and mechanistic view of how the world works. It is time to adopt the idea that communities are the 'core unit of sustainability' and to examine what role audit services should play in enabling communities to thrive in a sustainable way. The audit profession should adapt substantively so that it can serve as a foundation for building cooperative capacity between communities, markets, and governments.
New Zealand Society for Risk Management , Conference, New Zealand, 2012
If large organisations are to create and protect value in an economically challenging operating e... more If large organisations are to create and protect value in an economically challenging operating environment, an integrated approach to Corporate Governance, Risk Management and its Compliance functions is necessary.
Typically, these functions are performed in an isolated fashion, have conflicting priorities and have only a tenuous link with the part of the firm where it really matters: the major planning and funding decisions that shape the long-term future of the firm.
This integration poses several challenges. It involves specalists agreeing on a common approach, common priorities and developing strong collaborative links with business units and their leaders.
This paper describes the key components developed from over 3 years at a central government agency. This particular approach follows the ISO 31000 standard - which is gaining the critical acclaim and support of risk practitioners worldwide.
A comprehensive understanding of 'sustainability' or 'green' audit theory and practice requires a... more A comprehensive understanding of 'sustainability' or 'green' audit theory and practice requires a commonly accepted definition for what 'sustainability' means. Knowing about sustainability in a genuine sense requires a mindset that recognises the inherent complexity of nature and that all human endeavour is dependent on nature's inherent ability to sustain life. In contrast, the audit profession grew out of the financial accounting profession, which has traditionally defined accountability in narrow terms. Models of accountability in a social context have developed through government policy and collective action. There have been major innovations in sustainable finance and major shifts in investor behaviour towards sustainable investing. Progressive governments are shifting to an economics of wellbeing, which incorporate sustainable development as a major dimension of progress. Top-down development of accountability systems has resulted in an 'explosion of audit' services. Despite this, audit services are limited as instruments of social control, act 'after the fact' and operate within narrow scopes of accountability. It is highly likely that 'top down' progress in systems of accountability may not be sufficient to address the extreme risks posed by the nexus of climate change, political volatility, and technological complexity. To be effective in their core purpose, audit professionals must go beyond a reductionist and mechanistic view of how the world works. It is time to adopt the idea that communities are the 'core unit of sustainability' and to examine what role audit services should play in enabling communities to thrive in a sustainable way. The audit profession should adapt substantively so that it can serve as a foundation for building cooperative capacity between communities, markets, and governments.
New Zealand Society for Risk Management , Conference, New Zealand, 2012
If large organisations are to create and protect value in an economically challenging operating e... more If large organisations are to create and protect value in an economically challenging operating environment, an integrated approach to Corporate Governance, Risk Management and its Compliance functions is necessary.
Typically, these functions are performed in an isolated fashion, have conflicting priorities and have only a tenuous link with the part of the firm where it really matters: the major planning and funding decisions that shape the long-term future of the firm.
This integration poses several challenges. It involves specalists agreeing on a common approach, common priorities and developing strong collaborative links with business units and their leaders.
This paper describes the key components developed from over 3 years at a central government agency. This particular approach follows the ISO 31000 standard - which is gaining the critical acclaim and support of risk practitioners worldwide.
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Papers by Nitish Verma
Typically, these functions are performed in an isolated fashion, have conflicting priorities and have only a tenuous link with the part of the firm where it really matters: the major planning and funding decisions that shape the long-term future of the firm.
This integration poses several challenges. It involves specalists agreeing on a common approach, common priorities and developing strong collaborative links with business units and their leaders.
This paper describes the key components developed from over 3 years at a central government agency. This particular approach follows the ISO 31000 standard - which is gaining the critical acclaim and support of risk practitioners worldwide.
Typically, these functions are performed in an isolated fashion, have conflicting priorities and have only a tenuous link with the part of the firm where it really matters: the major planning and funding decisions that shape the long-term future of the firm.
This integration poses several challenges. It involves specalists agreeing on a common approach, common priorities and developing strong collaborative links with business units and their leaders.
This paper describes the key components developed from over 3 years at a central government agency. This particular approach follows the ISO 31000 standard - which is gaining the critical acclaim and support of risk practitioners worldwide.