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Analysis of the ACCA’s ‘CALCULATED RISK’ Guide:

Opportunities for Regulated Risks & rradar to Support Accountancy Practices & Finance Professionals in the Public Sector

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The ACCA’s ‘CALCULATED RISK’ guide published in December 2023 emphasises the increasingly complex and volatile environment within which public sector organisations, including accountancy practices and finance professionals, operate. The guide underlines the significance of risk management and resilience-building, presenting a comprehensive framework that extends from understanding and identifying risks to addressing and monitoring them successfully. Drawing from this insightful document, our company, Regulated Risks, in conjunction with our partnership with rradar, is strategically positioned to offer tailored risk management, insurance solutions, and legal advice to enhance the resilience and operational efficiency of accountancy practices and finance professionals in the public sector.1. Addressing Identified Risks with Customised Insurance Solutions:

The guide highlights several key risks, including fraud and corruption, economic inflation/recession, talent and skills deficit, financial challenges, and meeting the changing demands and expectations of service delivery. Regulated Risks can offer specialised insurance products tailored to these challenges:

  • Professional Indemnity Insurance: To protect against losses from fraud, errors, and omissions in professional advice or services, safeguarding accountancy practices against potential claims and legal costs.
  • Management Liability Insurance: To cover risks related to management decisions, protecting against claims that could arise from the alleged misconduct or wrongful acts of organisational leaders, including financial mismanagement or breaches of duty.
  • Cyber Insurance: In light of technological risks and the increasing threat of cyber-attacks highlighted in the report, our cyber insurance can provide a safety net against data breaches, cyber extortion, and other cyber-related threats, covering response costs, and legal fees.

2. Enhancing Risk Management Capacities:

The ACCA report emphasises the importance of building an effective risk culture and the need for continuous training and technology adoption in public sector organisations. Our partnerships can add value in several ways:

  • Risk Management Services: Regulated Risks, together with rradar’s legal and risk management expertise, can offer education, training, and consultancy services. This partnership can empower accountancy practices and finance professionals with the knowledge and capabilities to identify, assess, and prioritise risks effectively.
  • Advisory on Governance Structures: The guide advocates for adapting governance structures to manage risk better. Our services can include consultancy on establishing robust governance frameworks, integrating risk management into strategic planning and decision-making processes.
  • Technology Solutions: Acknowledging the report’s call for investment in technology to support organisational resilience, our offerings can include state-of-the-art risk management software and tools, powered by rradar’s technology solutions. These can aid in risk identification, assessment, and regular monitoring, providing real-time insights and alerts.

3. Supporting with Legal Expertise and Compliance:

The evolving regulatory landscape in the public sector presents additional challenges and compliance risks. Our partnership with rradar can significantly benefit our clients through:

  • Legal Advice: Providing access to legal advice and services to navigate regulatory requirements, legal disputes, and compliance challenges effectively.
  • Compliance and Legal Risk Management: Offering tools and services designed to keep accountancy practices informed and compliant with the latest regulations and statutory obligations, reducing exposure to legal risks.


Regulated Risks, in partnership with rradar, comprehensively addresses the needs and challenges detailed in the ACCA’s ‘CALCULATED RISK’ guide. By providing specialised insurance products, risk management consultancy, and legal expertise tailored to the public sector’s unique environment, we position ourselves as invaluable allies to accountancy practices and finance professionals. Together, we can enhance their resilience, ensuring they are well-equipped to navigate risks and capitalise on opportunities within an increasingly uncertain and complex landscape.

We work with businesses and professions of all sizes to help them navigate the complex regulatory environment and ensure their compliance.

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