CICA lists 20 questions the board can ask to assess how effective it is in meeting its responsibilities for the oversight of strategic planning and risk.

Because there is no single process appropriate for every board and every company, it is the joint responsibility of the board’s risk leader and CEO to involve the overall board in the ongoing processes of strategic planning and risk management, according to the Canadian Institute of Chartered Accountants (CICA).

Those avenues must be constructive and appropriate to the circumstances of the company, CICA says.

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