For many years, the ERM Initiative of North Carolina University, in partnership with the AICPA & CIMA, has surveyed organizations about their assessments of the maturity of “risk oversight[1]” at their organizations.
In October, 2023 they published “2023 Global State of Risk Oversight Report: Managing the Rapidly Evolving Risk Landscape”[2]. The two authors, Professors Mark Beasley and Bruce Branson, tell us that:
To gain a global perspective about the state of risk oversight practices in organisations around the world, we surveyed executives to understand what processes they have in place to navigate the rapidly changing risk landscape. The report summarizes insights from 983 executives in organisations around the world….
…a majority of the respondents serve in financial, accounting or treasury roles, although other executive positions are represented. And, organisations of all types and sizes are represented, with no industry comprising more than one-third of any geographic region’s respondent base.
For reference, the respondents were:
- In US, 22% were either the CFO or Finance Director; Treasurer/Controller 11%; 10%, CRO; 10% CAE.
- In Europe and UK, 45% CFO or Finance Director; Treasurer/Controller 14%; CRO 3%; CAE 3%.
- Asia and Australasia, 42% CFO or Finance Director; Treasurer/Controller 14%;…
