2 minute read 3 Mar 2015
Boy at fork in woodland path

How to rise to the challenge of the viability statement

Authors

Ken Williamson

EY UK&I Professional Practice Partner and Partner in Corporate Governance

Passionate about governance and audit which are critical to trust in business and a renewed focus on social purpose. Wine and exercise enthusiast - a perfect combination.

Mala Shah-Coulon

EY UK Corporate Governance, Associate Partner

Passionate about governance – a vital ingredient to running a successful enterprise and not a compliance imperative. Mum of twins and trustee at Bliss.

2 minute read 3 Mar 2015

There is evidence that companies viewing the viability statement as more than just a compliance exercise are likely to gain the most from it.

Our report, The viability statement: finding opportunities in the new regulatory challenge, can help companies complying with Code requirements in relation to risk, internal control and the viability statement. It:

  • highlights the opportunities for companies if they develop a thoughtful response to the changes, whilst also meeting their compliance obligations
  • provides our views on some of the issues boards and management will need to consider
  • suggests actions companies should take to ensure they are able to meet the viability statement requirements.

Download the report.

Rising to the challenge: a review of risk and viability disclosures in September 2015 annual reports analyses the first batch of annual reports required to comply or explain under the 2014 UK Corporate Governance Code provisions on risk and the viability statement. It contains:

  • observations on how companies responded to the Code changes
  • insights on emerging trends and leading practices
  • views on what makes for good disclosure in reporting on risk and viability.

Download the report.

The viability statement creates challenges for boards and management teams. Internal teams – risk, internal audit, treasury, finance and others – need to work together to ensure systems and processes are adequate.
Mala Shah-Coulon
EY UK Corporate Governance, Associate Partner

Summary

The two most vital questions businesses need to ask are what period their viability assessment will cover, and what assurance they'll need to make the statement with confidence. Our reports can help businesses rise to the viability statement challenge and find opportunities in the new regulatory landscape.

About this article

Authors

Ken Williamson

EY UK&I Professional Practice Partner and Partner in Corporate Governance

Passionate about governance and audit which are critical to trust in business and a renewed focus on social purpose. Wine and exercise enthusiast - a perfect combination.

Mala Shah-Coulon

EY UK Corporate Governance, Associate Partner

Passionate about governance – a vital ingredient to running a successful enterprise and not a compliance imperative. Mum of twins and trustee at Bliss.