•  Risk managers must address corporate governance issues and contribute to improved corporate governance. The increased anxiety among shareholders due to the celebrated cases of accounting scandals and corporate bankruptcies have highlighted the need for good corporate governance. Corporate governance has become an issue for a growing number of risk managers who are now given an active role in managing corporate governance standards.
Risk managers are therefore expected to address corporate governance issues and contribute to improved corporate governance to prevent losses and enhance long-term sustainability of the organization. •  Risk profession must embrace good business ethics. Allow me to tackle this subject by way of Enron’s experience with risk management. Enron maintained a risk management function with capable employees.