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Survey: Directors Uneasy About Risk Strategies

Joe Mont | December 16, 2014

Many directors are unhappy with their approach to risk oversight and mitigation, frequently feeling out-of-the-loop when it comes to cyber-security threats and concerned about where responsibility lies within the board.

That insight is gleaned from the National Association of Corporate Directors’ latest Public Company Governance Survey. The annual report compiled perspectives on governance trends and best practices from more than 1,000 corporate directors.

The survey found that many directors want changes to how risk oversight responsibilities are allocated, with nearly a quarter of respondents saying that their boards have not assigned risk oversight tasks to the correct group. Forty-eight percent of boards assign these tasks to the audit committee, even though 30 percent of directors disagreed with that approach. Conversely, directors were most satisfied when oversight was owned by the...

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