Risk Just Got Riskier

Risk Just Got Riskier

Risk management has been high on audit committee and board agendas in recent years, and many directors say their companies have made progress putting in place robust risk management processes.

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Risk just got riskier

Risk management has been high on audit committee and board agendas in recent years, and many directors say their companies have made progress putting in place robust risk management processes.
In the months ahead, however, even the most sophisticated approaches to
managing and overseeing risk will be put to the test as companies find their
way forward in a significantly more volatile and opaque business environment.

“Few business leaders have experienced the mix of risk and uncertainty, opportunity, and complexity that we’re seeing today,” said Jose Rodriguez, Partner in Charge and Executive Director of KPMG’s Audit Committee Institute. “Discussions about risk are taking on an added sense of urgency in the boardroom, and audit committees continue to be a catalyst for
those conversations.”

In a series of candid peer exchanges hosted by KPMG’s Audit Committee Institute, audit committee members highlighted a number of critical challenges and concerns driving their audit committee and board agendas in the months ahead, such as:

  • Risk oversight, including internal audit’s role and assessing corporate culture
  • Cyber security
  • Financial reporting matters, including non-GAAP metrics, new accounting standards, and CFO succession
  • Audit committee effectiveness

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

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