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Companies Urgently Search for Hidden Risks

Tammy Whitehouse | November 4, 2008

The phones are ringing off the hook at risk-management consultancies these days. So far, however, it’s just a lot of window-shopping.

The spectacular unraveling of credit markets and collapse of major financial institutions has caused public companies of all shapes and sizes to step back and wonder: What’s our risk? Are we managing things as well as we should? Or even as well as we thought?

“Given what’s happened in the last several weeks, it’s hard to imagine a sector that’s not been affected,” says Laura Taylor, national director at Aon Corp. “We’re seeing a heightened focus on risk.”


Hobgood

At the same time, companies aren’t pulling the trigger on big projects to assess and mitigate their risks. “We don’t see people making significant investments right now,” says Dirk Hobgood, CFO at consulting firm Accretive Solutions.... To get the full story, subscribe now.