Ernst & Young survey shows risk management bigger, but not better
NEW YORK - Actions taken by firms to strengthen their risk management procedures are too often proving ineffective and possibly counter-productive, a survey has revealed.
In Ernst & Young's Future of Risk survey, in which more than 500 senior executives were interviewed, 61% of respondents do not plan to commit more resources to risk management over the next 12-24 months.
The survey shows the number of risk management functions has increased to keep up with compliance requirements but, despite this increase, the coverage and focus of these areas have become increasingly difficult to manage, and the situation has been compounded by a lack of alignment.
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