The geographies around the Asia Pacific region are at different stages of their post-COVID-19 economic recovery. At the same time, there are many consistent themes and threats the entire region faces today. The conflict between Ukraine and Russia is already creating far-reaching consequences globally. With so many uncertainties shaping the business and risk environment in 2022, boards can play a constructive role in generating resilient corporate environment. Indeed, in this dynamic business world climate, resilience – of strategy, the organization, and operating muscle are vital in positioning companies for the challenges and opportunities ahead.

KPMG Asia Pacific Board Leadership Centre (BLC) hosted webinar entitled 2022 Board and Audit Committee Priorities, presented live on 31 May 2022. 

More than 300 Board members and C-level executives enjoyed the inter-active sessions. The KPMG partners from KPMG in Australia, Indonesia, Malaysia and Singapore and our esteemed panelists from reputable entities in Indonesia, Philippines and Thailand discussed the challenges and priorities shaping board and audit committee agendas and some key steps boards can take to build resilience in their organizations. 

The key takeaways that the speakers and panelists shared during the webinar were as follows:

• Irving Low, Head of Board of Governance of KPMG Singapore opened the webinar with a discussion of the new normal and the challenges that the board and C-Suite must contend with this year. He shared that it is important for the board to assess their company’s crisis prevention and readiness efforts on a regular basis. In addition, the board should also include ESG (including climate risk and DEI) into their risk and strategy discussions. Boards should also deepen their engagement on strategy and envision the future of their organization.  Lastly, it is up to the board to ensure that they are future-ready and they have the right board composition in terms of talent and diversity.

• The first panel led by Kasturi Nathan, Head of Board Advisory Service of KPMG Malaysia, tackled the macroeconomic and geopolitical impacts from recent events such as the pandemic, Russia-Ukraine conflict and China lockdowns. With the spike in global inflation and the supply chain crisis, the panel discussed how the board can manage and mitigate these risks by looking at the right data and being agile in their response and strategy.

• The second panel led by Irving focused on managing the board agenda including ESG and other risks. Panelists shared their organization’s experience with dealing with the pandemic and the role that technology played in protecting their employees and servicing their clients.  The panel also shared best practices of embedding ESG in a company’s culture and practice and how the board can lead this transformation.

Access the slides to the 2022 KPMG Asia Pacific Board and Audit Committee Priorities webinar.

Harry Widjaja
Partner, Audit & Assurance Services
KPMG in Indonesia
Email: Harry.Widjaja@kpmg.co.id  

LinkedIn Profile | KPMG Board Governance Forum
 

Harry is a partner in Audit & Assurance Services at KPMG Indonesia. He has more than 17 years of audit experience encompassing automotive, trading and services sectors.​ A member of the Indonesian Institute of Certified Public Accountants (IAPI), he is now looking after KPMG Indonesia’s Board Governance Forum.