An Accenture survey shows how widespread the need for fixing is, and suggests ways to go about it too.
The world has learned the hard way over the past year that most companies have done a bad job of managing risk. And not only banks and investment firms. Accenture's 2009 Global Risk Management Study has found that executives at business enterprises across a wide range of industries believe overwhelmingly that they need to overhaul their approach to risk management.
A snapshot of the results of the survey of 260 chief financial officers, chief risk officers and others responsible for corporate risk in 21 countries suggests just how much surgery may be needed to repair risk management. By huge margins, the respondents identified the following major problems:
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