This report illustrates the current practice of board oversight of risk management, based on in-depth interviews with executive and non-executive directors. It highlights good practices but also challenges that leaders face and considers way forward.
Risk affects all organisations. It can have far-reaching consequences in terms of economic performance, environmental and safety outcomes, and professional reputation. Managing risk effectively and risk optimisation, therefore, will help enterprises of all sizes and in all business sectors to perform well in an increasingly uncertain environment.
This report examines how the quality and value of risk reporting can be improved. It reviews current practice in risk reporting, the barriers to better risk reporting, the wishes of users, and the concerns of preparers.