Who owns organisation risk?

  • While COVID-19 may be obscuring some corporate governance risks at the current time, we shouldn’t forget recent lessons and learnings in risk governance.
  • Emerging risks and opportunities are evident through technology, the changing nature of work and a new emphasis on corporate culture.
  • This article provides insights and reflections on these risks that should interest directors and governance professionals.

Organisations across the board have seen a high level of risk crystallise due to climate risk, cyber risk, and as recently demonstrated, COVID-191. Such risks are effectively a tax on businesses. They have the effect of redirecting and reallocating resources, and cause cost distortions, shifts in supply, disruption to business and operating models, and changes in expectations from investors. Good governance requires effective oversight of risks which is the role of board directors and governance and risk committees of those boards. This article highlights insights and reflections from emerging areas of risk for directors, specifically blockchain, the changing nature of work and company culture issues.

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