The State of Risk Oversight: An Overview of Enterprise Risk Management Practices : Carnegie Mellon University , April , 2021
The State of Risk Oversight: An Overview of Enterprise Risk Management Practices : Carnegie Mellon University , April , 2021
From the document: "Organizations continue to face challenges linked to ongoing geopolitical, social, economic, technological, and environmental uncertainties, among other issues, that trigger an ongoing flow of risks that have the potential to significantly impact virtually all organizations. Many business leaders and other key stakeholders are realizing the benefits of increased investment in how they proactively manage potentially emerging risks. This is done by strengthening their organizations’ processes surrounding the identification, assessment, management, and monitoring of those risks most likely to impact – both positively and negatively – the entity’s strategic success. They are recognizing the increasing complexities and real-time challenges of navigating emerging risks as they seek to achieve key strategic goals and objectives. Many organizations are recognizing the need to enhance the formalization and robustness of their risk governance processes. Boards and C-suite executives of these organizations have embraced the concept of enterprise risk management (ERM), which is designed to provide an organization’s leadership a top-down, strategic perspective of risks on the horizon so that those risks can be managed proactively to increase the likelihood the organization will achieve its core objectives. To obtain an understanding of the current state of enterprise risk oversight among entities of all types and sizes, we have partnered over the past thirteen years with the American Institute of Certified Public Accountants (AICPA) Management Accounting - Business, Industry, and Government Team to survey business leaders regarding a number of characteristics related to their current enterprise-wide risk management efforts. This is the thirteenth report that we have published summarizing our research in partnership with the AICPA."
Authors - Tucker, B.A.Related Resources
