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Expectations of Risk Management Outpacing Capabilities – It’s Time For Action
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In December 2012, the Economist Intelligence Unit carried out a global survey on behalf of KPMG International. This survey gathered data from 1,092 respondents around the world in a closed-ended online questionnaire. All were C-level executives: 28 percent were Chief Executive Officers or equivalent and 18 percent were Chief Financial Officers, the two largest groups. Five percent were Chief Risk Officers.
If you combine those in the risk function and departments that work most closely with risk (legal, compliance and audit), the number comes to 131 people, or 12 percent of the total. Responses were evenly spread among companies of different sizes. Forty-
six percent came from companies with annual revenues of US$500 million or less. There were a lot of large companies: 37 percent reported revenues of US$1 billion or more. Most of the responses came from North America (25 percent), Europe
(25 percent) and Asia-Pacific (23 percent). The remainder was from the rest of the world, including Latin America (15 percent), Africa (8 percent) and the Middle East
(4 percent).
The survey was answered by people from more than 21 industries. To make it easier to drill down into individual categories, we grouped respondents into sectors; Financial Services (including banking, insurance and so on) comprised 17 percent; Technology, Media & Telecommunications made up 16 percent; Healthcare comprised 15 percent; and Energy and Natural Resources comprised 14 percent. Another
large category was Diversified Industrials (including manufacturing, automotive and aerospace) which made up 15 percent of the total. This left 23 percent from other industries such as consumer goods and chemicals.
KPMG international - Organizational Body
NONE
Management
English
1-60
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