Page 25 - ICGN Annual Review 2017 - 2018
P. 25

Risk Oversight Auditor Review
The ICGN Risk Register is reviewed annuatty by the VCGN Finance Grant Thornton UK LLP (‘GT‘) has served as VCGN auditor
Committee and the VCGN Board. The Risk Register identifies since 2010. The VCGN Finance Committee has reviewed the
known risk factors and provides an assessment of potentiai effectiveness, performance, independence and obiectivity
mitigation of such risks. in 2017, the most prominent risks to the of GT. on behalf of the Board, and has recommended their
ICGN as a going concern are reappointment as auditors of the company for 2018 ICGN
Members wiii consider the resoiution for approvai at the

I CEO succession: The ICGN does not currentiy empioy a ronhcommg AGM

fuii time deputy to the CEO which presents a risk in terms of

any sudden ioss. The CEO and Governance Committee are

reviewing key rote succession across the Secretariat with a view 

to strengthen human resources in the short term A" instinct for growthw
I Conlerence income volatility: Conference income

accounts for around haif of aii ICGN revenue and is vitai for

the sustainabitity of our work programme. The internationai

nature of VCGN events. can iead to votatiie teveis of revenue

generation To reduce this risk the VCGN Annual Conference wiii

be heid in markets most iikeiy to generate an appropriate ievei

of financiai support
I Increasingly dominant competition: The VCGN is at a

disadvantage to other giobai membership organisations where

there is a compeiiing rationaie for membership based on ciient

reiationships. The VCGN must therefore continue to iead and

deveiop new initiatives to ensure the attractiveness of VCGN

membership benefits. This requires strategic investment

over the medium term aiigned to the newty developed VCGN

Strategic Ptan i

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