A Culture of Complacency

This report by BDO explores how the priority and impact assigned to a risk should not be influenced by its novelty or familiarity.

Risk management needs to be part of a company’s culture, rather than being seen as a task – an awareness of risk and what to do about it should be in the DNA of every employee. It is up to the C-suite to take the lead in ensuring today’s hazards do not sit in a risk-function silo.

Key points include:

• 60 percent of those questioned believe their organisation fails to re-evaluate ownership for risks that have been on the register for more than three years, demonstrating that complacency is a danger.

• More than three quarters believe their risk register is at least partly based on media stories, rather than a clear-sighted and analytical assessment of the threats facing the company.

DOWNLOAD INSIGHT

Related Insights

Read, watch & listen to some of the latest thought leadership from our Community.

Inside the Take-private at Pr...

After a whirlwind journey from the NYSE to private ownership, PropertyGuru CFO Joe Dische reflects on making the hard calls. In this interview with Criticaleye Senior Editor Bridgette Hall, he discusses public vs privat...

Inspiring Leaders Podcast: Le...

Rob Hornby, Co-CEO of AlixPartners and Rita Clifton CBE, Portfolio Chair and Non-Executive Director (including Deputy Chair of the John Lewis Partnership, Chair of Simplyhealth, Chair of the international sustainability...

Inspiring Leaders Podcast: De...

Lucinda Charles-Jones, Non-executive Director & Chair or RemCo for Virgin Money and Rank Group (plus a Criticaleye Board Mentor) and Jim Devine, Group HRD, Spirax Group speak to us about some of the findings of our ...