A pair of recent studies by accounting firms confirm an increasing number of companies are retooling their risk strategies as a result of recent economic turmoil and persistent uncertainty.
More than half of the nearly 200 executives who participated in a joint study by Deloitte & Touche and Forbes Insight said they expect their organizations to revamp their risk approach in the next 12 months, and 91 percent said they expect to reorganize their approach to risk management at some point over the next three years. More than half of executives said they will elevate the profile of risk management within the entity while smaller numbers plan to take more substantive steps. For example, 39 percent said they will reorganize risk management processes, 37 percent said they will provide more training for staff, 31 percent said they will put new technology in place, and 28 percent said they will integrate risk into strategic planning.
