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We live in a disruptive world where the risks companies face are constantly evolving. Risks not on your radar today could easily be brought to light within the next year, month, or even week. The IIA recently released its report, On Risk 2020 – A Guide to Understanding, Aligning and Optimizing Risk, which provides perspective from key members of risk management functions and offers insight on what to look for next year.
On Risk 2020 was developed from qualitative and quantitative interviews conducted with nearly 100 professionals to capture viewpoints of the boardroom, c-suite and chief audit executives. Results were analyzed to get a better picture of how the three roles aligned, both regarding the risks that exist within organizations and how well-equipped those organizations are to manage the threats. Several key insights resulted from the report.
Image obtained from The IIA’s “On Risk 2020 – A Guide to Understanding, Aligning and Optimizing Risk”
As businesses and risks evolve, collaboration between internal audit, senior executives and the board has never been more critical. Organizations should continue to understand, assess and proactively manage the risks they face and ensure this information is clearly communicated among all risk management functions.
Interested in learning more about how to assess and address risks within your organization? Contact our Risk Advisory Services team by e-mailing us at [email protected]. For the complete report, click here to download On Risk 2020 – A Guide to Understanding, Aligning and Optimizing Risk.
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