Late last year, Protiviti and NC State University’s ERM Initiative released a global survey of directors and C-level executives on the top risks faced by companies over the next year.[1] Our survey included observations and insights from over 100 CFOs. What’s interesting is that the survey results hit the nail on the head in looking at the risks many CFOs face in today’s world, defined and bounded by the ugly realities of COVID-19.
What are the top risks CFOs see for their organizations in 2020?
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According to the survey, the top risk concern for CFOs relates to the economy, specifically the potential for an economic downturn that might significantly restrict growth opportunities. Undoubtedly, that is the top risk today, given the uncertainty in the global economic picture, even if for different reasons than were likely in the minds of the participating CFOs when the survey was taken.
CFOs are likely watching several economic signs as we move forward:
- First and foremost, the emergence from the various states of COVID-19 lockdowns around the world and within each country, and the various phases of the post-lockdown emergence….
