Ascending the maturity curve: Effective management of enterprise risk and complianceJanuary 25, 2012 No Comments
How do companies approach risk?
Most organisations have come a long way in managing financial risks, and it is a rare large company that does not have a C-level executive focusing on the overall approach to risk and compliance. That does not mean that risk and compliance are under control; in fact, there are usually varying levels of effectiveness throughout the organisation. Despite recognising the benefits of an integrated approach, few organisations manage risk and compliance activities consistently and efficiently.
One reason is the apparent cost and complexity of an enterprise-wide risk and compliance implementation. In most organisations, risk responsibilities span a wide range of activities, from health and safety and IT security to financial reporting and credit risk exposure. This dispersal of risk responsibilities inevitably leads to a disconnected approach, with different departments setting their own policies and operating their own processes. Integrating these activities to permit an enterprise-wide view can seem like a Herculean task.
Ascending the maturity curve: Effective management of enterprise risk and compliance is an Economist Intelligence Unit briefing paper sponsored by SAP. The Economist Intelligence Unit bears sole responsibility for this research. Our findings drew on desk research, a global survey and in-depth interviews with executives familiar with risk and compliance within their organisations. The findings and views expressed in this report do not necessarily reflect those of the sponsor. Rob Mitchell was the author of this report and Mike Kenny was responsible for its design.DATA and ANALYTICS , Featured White Papers