Grey zone aggression rises
Enterprise Risk Magazine
by Arthur Piper
6d ago
Organisations are increasingly concerned about disruptions to global commerce by so-called grey zone aggression, according to a survey by wtwco. Elisabeth Braw, a senior fellow with the Transatlantic Security Initiative at the Atlantic Council, is quoted by the report saying, that grey zone aggression represents action that takes place “in the grey zone between war and peace and is used to weaken a country using means short of war.”  Hard to fight While such strikes against, for example, shipping and infrastructure can be very effective, preventing them from happening is difficult. T ..read more
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Organisations “overconfident” on risk management
Enterprise Risk | Institute of Risk Management
by Arthur Piper
2w ago
Organisations have a high opinion of their abilities to be prepared for a crisis, but the actions they take to be prepared are falling short, said a survey by Origami Risk. In fact, the amount of priority that organisations put on risk management has dropped almost by 10 per cent in the past year, the report said, and the percentage of respondents who said they had fully connected risks with strategic objectives was down by about one third. “Nearly every sign points to a retreat back from the two-year expansion in risk-related capabilities the survey has previously shown,” the report said. “Th ..read more
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Organisations struggle to make ESG work strategically
Enterprise Risk | Institute of Risk Management
by Arthur Piper
3w ago
Organisations are struggling to make ESG work strategically because they are often unable to move away from a compliance agenda, according to a report by the consultant KPMG. While most companies recognise that ESG should be a valuable tool for enhancing their financial performance, resourcing constraints and internal business silos are making it difficult to integrate sustainability goals with long-term objectives.  Investing in change But 90 per cent of businesses said that they were increasing ESG over the next three years to help fix these issues. Many (43 per cent) said they wer ..read more
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Employers increasingly out of touch with staff needs
Enterprise Risk | Institute of Risk Management
by Arthur Piper
3w ago
Almost two-thirds (64 per cent) of HR professionals said their organisations delivered an “excellent”  employee experience compared with only 20 per cent of employees who said the same, according to a survey by Benefex. The situation has got worse since 2023 when employers slightly underrated their performance (34 per cent said they provided an excellent experience, compared with 38 per cent of employees). This comes at a time when 81 per cent of employees said that their experience at work was more important than a year ago. Disconnect “[These results] suggest that there is a d ..read more
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LGBTQ+ inclusion culture aids talent retention
Enterprise Risk | Institute of Risk Management
by Arthur Piper
1M ago
Employers looking to enhance retention in the workforce should deepen their focus on LGBTQ+ inclusion, visibility and engagement programmes, according to a study by EY. The US-based study found that while there are 14 million adults in the LGBTQ+ community in the US today, that figure could grow by 2030 as more Gen Z employees enter the workforce (those born between 1997 and 2012). That is because Gen Z employees are six times more likely to identify as LGBTQ+ than their Gen X counterparts, the study said. Prioritising inclusion Companies that fostered an inclusive workplace found that 97 ..read more
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Health and safety emerges as top risk for 2024
Enterprise Risk Magazine
by Arthur Piper
1M ago
Global businesses have identified health and safety risk as their top priority, ahead of cyber-attacks, data loss and regulatory breaches, according to a survey by Clyde & Co. Its annual Global directors’ and officers’ liability report 2024 found that social risks had climbed significantly, with health and safety ranking first as a concern for 86 per cent of respondents. “It is unclear what the precise reason is for this rise in concern but, certainly in the UK, 2023 saw highly-publicised fines levied on major corporations (e.g. Network Rail, Morrisons, Serco and Transport f ..read more
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Introducing the 2024 Governance, Risk & Compliance Benchmark Report
Enterprise Risk Magazine
by Editor
1M ago
SAI360 is excited to bring you our 2024 GRC Benchmark Report as part of a co-creation between The Hague University of Applied Sciences, Johnson Controls, Thought Leader Global and SAI360. The survey objectives are not only to understand current practices, but also to facilitate a comparative analysis across organizations, providing a basis to benchmark corporations that fall within the profile of those surveyed. This Report focuses on the annual cost of compliance whilst touching on a variety of topics from AI and deep learning to ESG and more. This GRC benchmark report covers the following an ..read more
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IMF says global financial markets “quite optimistic”
Enterprise Risk Magazine
by Arthur Piper
1M ago
Compared with 2023, financial markets have turned “quite optimistic” in light of a softer landing from high inflation, according to an annual report by the International Monetary Fund (IMF). While the near-term global financial stability risks have receded in the expectation that disinflation is controlled, the medium-term picture is less rosy. “So far, cracks in the financial system—unmasked by high interest rates during the monetary tightening cycle—have not ruptured further,” the report said – citing a lack of contagion following bank collapses in the US and Switzerland in 2023. “Finan ..read more
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Larger organisations bear brunt of cyber attacks
Enterprise Risk | Institute of Risk Management
by Arthur Piper
2M ago
Large (74 per cent) and medium-sized (70 per cent) businesses and high income charities (66 per cent) reported having experienced a cyber security breach or attack over the past year, according to the government’s annual survey on the issue. Respondents said that the most common form of breach was phishing – businesses 84 per cent and charities 83 per cent. This was followed by others impersonating organisations (35 per cent) and viruses and malware (17 per cent). Controls rising “The most common cyber threats are relatively unsophisticated, so government guidance advises businesses ..read more
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Organisations plan assurance drive on AI
Enterprise Risk | Institute of Risk Management
by Arthur Piper
2M ago
Organisations plan to boost internal audit coverage over the potential risks arising from the deployment of AI technology, according to a survey by Gartner. For example, planned internal audit coverage for AI-enabled cyber threats and AI control failures leapt from 10 per cent each in 2023 to an expected 52 and 51 per cent in 2024 among chief audit executives, the report said. Internal audits over unreliable outputs from AI models jumped from 14 per cent in 2023 to a planned 42 per cent in 2024. Confidence gaps “Perhaps the most striking finding from this data is the degree to which inter ..read more
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