In an unpredictable global economy, no organization is shielded from the myriad of risks that can emerge at any moment. Across all sectors, sizes, and locations, entities encounter challenges that can significantly influence — for better or worse — their mission, business model, and strategic direction. Enterprise risk oversight is not just beneficial; it's a crucial aspect of ensuring a company's resilience and ability to navigate unforeseen events that could jeopardize its goals or existence.
Effective risk management practices are essential for senior executives and board members to avoid being caught off guard, which can severely affect an organization's ability to weather strategic or existential threats. Recognizing the role of comprehensive risk oversight is the first step toward fostering a more agile and responsive business environment.
Key findings from the global survey
To capture a worldwide perspective on the state of enterprise risk oversight, the AICPA and CIMA, in collaboration with the North Carolina State University ERM Initiative, conducted an extensive survey. This initiative gathered insights from 983 executives, aiming to shed light on how organizations maneuver through the evolving global risk landscape across the following four geographic regions:
Europe & the UK
Asia & Australasia
Africa & the Middle East
The United States
Each region presents unique challenges and approaches in risk management, reflecting the diverse nature of the global economy.