In a recent landmark case, the United Kingdom Supreme Court held in BTI 2014 LLC v. Sequana SA & Ors,  UKSC 25 that directors of a corporation owe a fiduciary duty to creditors when a corporation is at or near insolvency.
Earlier this week, I discussed the topic of the risky risk officer. What is the ideal risk attitude to have in a risk practitioner? Today, I want to shift to the risk attitude of the internal auditor. Do we want an internal auditor that is so risk averse they won’t spend $5 on a lottery ticket with a 10% chance of winning $100,000?
How should a risk officer feel about taking risk? What is the ideal ‘risk attitude’?