Risk evaluations along with risk management are a must for any organization who wants to thrive in today’s market. As many organizations grow and move into different geographical locations, additional considerations targeting specific locational risks need to be taken under advisement. A risk evaluation is not a once and done procedure. Risk is constantly evolving and your management of it needs to evolve as well.
In “The State of Risk Oversight: An Overview of Enterprise Risk Management Practices” a recent report from North Carolina State University’s Enterprise Risk Management Initiative and the American Institute of CPAs (AICPA), shares insights from a survey of 474 U.S. CFO’s on how they are proactively managing potential emerging risks. According to the survey, only 22% of finance leaders described the maturity of their organization’s overall risk management oversight as ‘mature’ or ‘robust’.
In 2016 a Poole College of Management survey found that 57% of respondents believe the volume and complexity of risks have changed “extensively”. Approximately, 63% were caught off guard by an operational surprise. In a world where terrorism, cybersecurity, and even climate change can greatly affect the level of procedural risk management needed to keep an organization growing and thriving, these numbers are quite shocking.
In our latest white paper, Risk and its Evaluation, we take you step-by-step through, why a risk assessment is important, what is included, the analysis and assessment, and finally handling the risk overview. Our Advisory Services Division has painstakingly compiled over 30 years of compliance and cybersecurity knowledge to bring you an up-to-date white paper that will help organizations implement a more comprehensive risk management practice.
For more information or to speak with our Advisory Services Division, call (877) 369-1831 or email us at firstname.lastname@example.org.
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