Risk Topics

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World ‘unprepared’ for magnitude of cascading climate risks
A new report from Verisk Maplecroft says that governments and businesses are not preparing effectively for changing environmental risks.
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• World

Gartner releases quarterly Emerging Risks Report: shows unusually high degree of interrelated risks
Concern about a macroeconomic downturn has rapidly ascended into the top emerging risk facing organizations, according to Gartner’s latest global Emerging Risks Report. The survey, with 306 senior executives and risk management professionals, was conducted in the second quarter of 2022.
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• World

Updated Flood Risk Index maps how a changing climate will shape flood risk in the future
Marsh McLennan has released its updated Flood Risk Index 2.0, which shows how flood risks are expected to alter and develop as the climate changes.
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• World

When you are considering the causes of business impacts have you thought about this one?
Business continuity managers won't be shocked to see that over the past five years, fire and explosion and natural catastrophes have been the top two major causes of loss by value of insurance claims, but the third highest cause - faulty workmanship or maintenance - may be more of a surprise.
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• World

Embedding ESG and sustainability considerations in the Three Lines Model
The Institute of Internal Auditors (IIA) has partnered with the World Business Council for Sustainable Development (WBCSD) to issue new guidance on embedding ESG and sustainability considerations in the Three Lines Model.
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• World

Gartner survey reveals climate change risk assessment weaknesses
Only 27 percent of supply chain leaders have conducted a climate change risk assessment to identify their most critical supply chain risks, according to a survey by Gartner, Inc. The survey among 320 supply chain leaders in December 2021 and January 2022 found that just 18 percent of respondents conduct both risk assessments and scenario planning.
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• World

Canada’s financial regulator releases guidelines for managing technology and cyber risks
Canada’s Office of the Superintendent of Financial Institutions (OSFI) has published its final Guideline B-13, which sets out OSFI's expectations for how federally regulated financial institutions (FRFIs) should manage technology and cyber risks such as data breaches, technology outages and more.
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• Canada

Despite general perceptions, the pandemic is not over and future risks remain says WHO Emergency Committee
The twelfth meeting of the WHO International Health Regulations (2005) Emergency Committee regarding the coronavirus disease (COVID-19) took place on Friday, 8th July 2022.
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• World

US organizations are struggling to keep up with changing risk landscape
A new report issued today by the American Institute of CPAs (AICPA) and North Carolina State University’s Enterprise Risk Management (ERM) Initiative states that 65 percent of senior finance leaders agree that the volume and complexity of corporate risks have changed ‘mostly’ or ‘extensively’ over the last five years.
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• US

Risky business: managing the great energy transition
Future energy resources are one of many considerations on the agenda of enterprise risk managers as they seek to set and reach ESG goals. Sustainable energy will be key to this, but also comes with its own set of risks, as Dr. Lou Gritzo explains.
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• World

Over a third of businesses fear security risks from incompatible applications
Over a third (36 percent) of organizations fear the risk of a security breach or incident due to an incompatible application on the latest version of Windows, according to new research of UK and US CIOs commissioned by Cloudhouse.
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• World

Managing compliance risks associated with SAP audits
SAP systems are widely used for enterprise resource planning and are subject to regular auditing as a result. Failing an audit can lead to system shutdowns, expensive remediation, and non-compliance with standards. Here, Tim Wallen explores how organizations can improve the SAP audit process and their compliance efforts.
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• World

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