A survey of KMPG LLP’s internal auditors and board members reveals that many companies are falling short in three critical areas of their enterprise risk management (ERM) programs—risk culture, risk management processes and technology.
"Given today's unprecedented and extreme market fluctuations, mismanaging risk could affect a company's competitive position and even its viability," says John Farrell, KPMG's lead partner for enterprise risk management. "Management and boards need to ensure that fundamental ERM components are in place if they expect their company's risk management programs to deliver the intended results."
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