Global Risk Management Study

This 2009 Global Risk Management Study by Accenture helps to understand the issues around enterprise risk management in the current economic downturn. The report outlines eight primary lessons to be drawn and the most important keys to achieving high performance through an improved risk management function. The key findings are as follows: 

• About half believed their company was well prepared to face the economic turmoil.
• More than 85% indicated that their risk management capabilities needed to change.
• 42% pointed to the need for better integration of risk, finance and business data.
• 80% say that poor data quality, inefficient reporting and fragmented systems are increasing the cost of risk management.
• Risk managers spent only 20% of their time advising business units.
• More than 70% have increased or plan to increase spending on risk management.