To improve board performance in the area of risks, 61% of the respondents would like their boards to give more time to risk management issues. Around a quarter (26%) of the respondents believe that their companies have already increased the attention they pay to risk management.
PwC Russia conducted a survey among members of the Russian boards to compare their work with their peers internationally.
The top priority topics that Russian companies’ directors would like to give more time and attention to in their work next year include risk management, strategic planning and top management remuneration.
Canvassing Russian and US directors has brought some comparable results: continuity planning, strategic planning and risk management come in first, second and third, respectively, in terms of issues that US directors are dealing with and that, according to them, deserve more attention.
Among the key areas of Russian boards' activities, they are most efficient in ensuring the fairness of the financial statements (68% of positive opinions, including 26% at the top level) and in their ability to make a critical assessment of general director / CEO performance (46%, including 23% at the top level).
You are welcome to look at the survey results in more detail.
Managing Partner, PwC Russia
Non-Executive Independent Director, MTS
CEO, International Business Leaders Forum (IBLF)
Member of the Board of Directors, TATNEFT
Independent Chairman of the Board, Chairman of the Audit Committee, KOKS Group
Senior Managing Director, Interros; Chairman of the Board of Directors, MMC Norilsk Nickel
Member of the Board of Directors, Chief Executive, Polymetal