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Surveys Suggest Big Concern, Slow Progress on ERM

Tammy Whitehouse | September 4, 2008

Risk management is a top priority for chief financial officers and audit committee members, according to recent surveys at accounting firm Crowe Chizek.

More than 65 percent of CFOs and more than 70 percent of audit committee members say managing enterprise risk is the biggest challenge their organizations face in the coming 12 months, according to the aggregated results. The results suggest ERM is a challenge even greater than financial reporting and improving internal controls, Crowe says.

JulienRick Julien, an executive at Crowe Chizek says several factors make risk management such a challenge, including the increasingly global economy, turbulent market conditions, changing technology, changing demographics, and everyday operating challenges. “All of those...

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