A new report from the Association of International Certified Professional Accountants representing AICPA & CIMA and North Carolina State University’s Enterprise Risk Management (ERM) Initiative found that 65% of senior finance leaders agree that the volume and complexity of corporate risks have changed “mostly” or “extensively” over the last five years. Despite this, only a third (34%) say their organizations have complete enterprise risk management (ERM) processes in place, and just over a quarter (29%) rate their organization’s overall risk management oversight as “mature” or “robust.” These findings are unchanged from a year ago.
Rapidly changing events, including concerns about the economy and inflation, geopolitical developments impacting trade and supply chains, disruptive technologies and AI, cyber and privacy threats and a host of other risk triggers are continuing to drive significant disruptions that impact an organization’s business model. Despite these unfolding realities, most organizations continue to not have robust enterprise risk management (ERM) practices in place.
The 2023 State of Risk Oversight: An Overview of Enterprise Risk…
