Wednesday, February 15, 2006
Companies Admit to Poor Risk Management
Many corporate leaders lack confidence in their organization's risk management controls, according to a Protiviti study. More than half of the Fortune 1000 C-level executives surveyed acknowledged that there is more they can do to identify, quantify and manage the risks they face.
According to the study, companies do not have just one predominant risk today -- rather, they face a range of risks. The most significant risks relate to information systems and IT security, customer satisfaction, activities of the competition, and legal and regulatory issues.
Most companies are taking at least some steps to improve, according to the study. Sixty-five percent of respondents report their companies are planning to make changes to their risk management capabilities during the next two years. These efforts include enhancing their organization's ability to identify potential risks through implementing better technology and hiring more qualified staff
posted by Brian Moran @ 9:16 AM