The ERM Initiative at NC State, in partnership with the AICPA, has announced the release of its 2021 State of Risk Oversight Report: An Overview of Enterprise Risk Management Practices, reflecting insights from 420 executives about the state of ERM maturity in their organizations.
The 12th annual report reveals that executives believe risk volumes and complexities are at their highest level in 12 years, increased by significant events tied to COVID-19, social unrest, recent elections, extremely low interest rates, and a host of other triggers. Recent realities are revealing a need for real change in how organizations oversee the constantly evolving risk landscape.
Fewer than half of the respondents describe their organization’s approach to risk management as mature or robust, even though a large majority describe their risk culture as “strongly risk averse” to “risk averse”. Might there be a disconnect?
This 2021 State of Risk Oversight Report highlights over 40 different aspects of risk management practices that readers can use to benchmark their risk management processes along several dimensions. And, it includes Calls to Action and an Evaluation Template that executives can use to quickly assess their risk management programs.
In addition to providing analyses for the full sample, the report includes sub-analyses for large organizations (revenues > $1B), public companies, and not-for-profit organizations.
Read more about the 2021 findings and download the report here.