Why audit committees worry about risk management systems
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.
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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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