Banks and other financial institutions (BOFIs) could find there is a shortage of suitable qualified non-executive directors (NEDs), according to one expert.
Responding to Sir David Walker's review of corporate governance, Phil Rivett, financial services assurance practice leader at PricewaterhouseCoopers, warned of a major short-term challenge when it comes to appointing NEDs.
Despite this, Mr Rivett did welcome Sir David's recommendation that people serving as a NED should have better support and training, as well as more access to external experts when it comes to issues such as remuneration.
Mr Rivett said: "The long-term result should be greater understanding of the impact of risk on the strategy of BOFIs and an enhanced ability to challenge in board discussions."
He was also pleased to see proposals which would lead to more board time being devoted to the issue of risk governance.
Recently, Charles Tilley, chief executive of the Chartered Institute of Management Accountants, called for all large UK businesses to stress test their strategies.
Show me Financial Planning and Analysis jobs.
