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Directors’ Alert 2020
Reimagining governance and oversight amid digital disruption
Digital transformation brings about new strategic, ethical, cultural, reputational, reporting, talent, and conduct risks, to name just a few. With these come a burst of opportunities and challenges. How can the board and the organisation that they oversee innovate to embrace the benefits and mitigate the risks associated with digital disruption? Find out in this edition of Directors’ Alert.
Explore this year's emerging areas of focus for boards
While we focus on the disruptive forces that cognitive technologies and intelligent automation have unleashed within the business environment in our 2020 Directors’ Alert, it would be a mistake to see this primarily as a technology issue. It’s bigger than that. It goes beyond the organisation to impact not only each and every stakeholder, but the entire marketplace, society, and global community.
This edition challenges boards to stretch their imagination and consider ways in which their organisation is using digital and cognitive technologies, and assess whether risks have been assessed and mitigated—and that all opportunities have been seized.
This edition of the Alert features viewpoints of three independent non-executive directors and Deloitte business leaders from across the globe on:
- Rethinking risk governance around intelligent automation
- Reassessing culture, conduct, and reputation in the digital age
- Redefining financial reporting and audits
Reimagine—foresight around digital disruption begins with the board.
Directors' Alert 2020
Look before leaping (into the future)
Reassessing culture, conduct, and reputation in the digital age
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<p><strong>Reassessing culture, conduct, and reputation in the digital age</strong></p><p><br></p><p>In a blink of an eye, digital disruption can transform an organisation into something different and possibly unfamiliar. This calls for the board to look toward the horizon and pay close scrutiny of the course management has chosen. Both entail overseeing risks and clarifying opportunities that may escape management’s attention, including those related to culture, conduct, and reputation. Each of these factors can be profoundly influenced by digital transformation or even a single intelligent automation initiative. Is your board ready to break down these barriers and oversee true digital transformation?</p><p><br></p><p><a href="https://www2.deloitte.com/content/dam/Deloitte/au/Documents/risk/deloitte-au-risk-directors-alert-2020-200220.pdf">Download the report</a>.</p>
The rise of the smart machine
Rethinking risk governance around intelligent automation
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<p><strong>Rethinking risk governance around intelligent automation</strong></p><p><br></p><p>AI technologies can take an organisation into uncharted waters. Many board members may initially find AI mysterious or intimidating, but the fundamentals of risk governance and oversight generally apply. The opportunities are as real as the risks, and the board is ultimately responsible for overseeing that management has identified and addressed both. Is your board equipped to oversee AI?</p><p><br></p><p><a href="https://www2.deloitte.com/content/dam/Deloitte/au/Documents/risk/deloitte-au-risk-directors-alert-2020-200220.pdf">Download the report</a>.</p>
The finance function and the audit of the future
Redefining technology usage for financial reporting and audits
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<p><strong>Redefining technology usage for financial reporting and audits</strong></p><p><br></p><p>Accounting and finance functions are adapting advanced and cognitive technologies to support their expanding role in developing and tracking key performance and risk indicators, analysing risks, and assisting management achieve organisational goals – all in addition to financial reporting responsibilities. While the benefits are many, so are the risks. Is your organisation prepared?</p><p><br></p><p><a href="https://www2.deloitte.com/content/dam/Deloitte/au/Documents/risk/deloitte-au-risk-directors-alert-2020-200220.pdf">Download the report</a>.</p>