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KPMG survey identifies concerns over companies’ risk management and crisis readiness programmes

Risk management and crisis readiness continue to pose significant challenges to companies across the globe, according to a new survey of some 1,800 audit committee members in 21 countries undertaken by KPMG’s Audit Committee Institute.

Nearly half (45 percent) of survey respondents globally said their company’s risk management programme requires ‘substantial work’ (39 percent of UK respondents). The quality of information that audit committees receive about critical risks facing the company continues to pose concerns – particularly cyber security where only a fifth of UK respondents are completely satisfied with the quality of information they receive – while only just over a third of UK audit committee members are fully satisfied that their company’s risk management process is dynamic enough to cope with a rapidly changing environment including new technology and social media risks.

Meanwhile, anti-bribery laws have become a significant area of attention with over three quarters of UK audit committee members saying that they have increased their focus on the issue.

The full report can be downloaded at www.kpmg.com/aci

•Date: 31st Jan 2013 • UK/World •Type: Article • Topic: Enterprise risk management

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