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independence of Non Executive Director
In ACCA's articles https://www.accaglobal.com/uk/en/student/exam-support-resources/professional-exams-study-resources/strategic-business-leader/technical-articles/independence-as-a-concept-in-corporate-governance.html
It says:
"...it is sometimes easier to demonstrate independence when NEDs are appointed from outside the industry. In addition to the benefits of the ‘new broom’ effect of bringing a fresh pair of eyes to a given problem..."
So that's not a requirement - nor a business risk if a company does not have a NED who is independent of the industry. I suggest you would need to look at the "given problem" to identify the potential business risk.
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