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Overview of Enterprise Risk Management Practices

NC State’s ERM Initiative, in partnership with the American Institute of CPAs, has just released its tenth anniversary report, 2019 The State of Risk Oversight: An Overview of Enterprise Risk Management Practices. While most executives perceive that uncertainties in the business environment are leading to more complex risk challenges for their organizations, few executives describe their organization’s approach to risk management as mature or robust, according to the recently released study.

This report provides extensive data about the state of maturity about various aspects of an organization’s ERM process. The following highlights stand out amongst the report’s key findings:

  • Most executives perceive that uncertainties in the business environment are leading to more complex risks.
  • Despite concerns about a number of potential risk issues on the horizon, few executives describe their organization’s approach to risk management as mature.
  • External stakeholders expect greater senior executive involvement in risk management.
  • Boards are focused on risk oversight, but they tend to delegate responsibilities to a committee rather than retain that for the full board.
  • More organizations are appointing an executive to oversee their risk management processes, with most organizations creating a management-level risk committee.
  • Few organizations perceive their approaches to risk management as providing important strategic value.
  • About half of the organizations engage in formal risk identification and risk assessment processes.

Read the full post and download tenth anniversary report, 2019 The State of Risk Oversight: An Overview of Enterprise Risk Management Practices, here.

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