A just-released survey from the Pool College of Management at NC State University reveals that about one-third (32%) of organizations in the U.S. survey group do minimal to no formal assessments of strategic, market, or industry risks.
The survey has been conducted each year since 2009, providing an opportunity to observe shifts in trends. It covers a broad range of industries and provides some useful insights about the level of sophistication in risk oversight, highlighting many of the challenges associated with strengthening it. An increasing number of U.S. organizations embrace the concept of enterprise risk management (ERM), but there is noticeable room for improvement in how they are managing the process.
Read more about the changes in the marketplace that are likely influencing this trend at the Journal of Accountancy.