Audit committees are worried that boards have failed to grasp the risk nettle. Diversity of thought, and agility to react to change, should be central to good governance.
A considerable number of audit committee members believe their organisation’s risk management system requires “substantial work”.
This sobering conclusion comes from KPMG’s Audit Committee Institute, which surveyed more than 800 non-executives from 42 countries across the globe.
The 2017 Global Audit Committee Pulse Survey found that 42% see a requirement for much more effort to be placed upon risk systems and processes. In a world of economic and political uncertainty, technological advances, cyber-threats and market disruption, audit committee members are worried their companies have failed to fully grasp the nettle of both sh
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