Ideally, operational risk management should serve as the early warning signal to the board and senior executives to take action. In reality, enterprise risk management programs often do not live up to their promise of proactively managing enterprise-wide risks.
Two out of three CFOs said their business
does not have “complete enterprise risk management processes in place,” according to a recent
report by the Association of International Certified Professional Accountants (AICPA and CIMA).