Given the complexity of the risks companies face, the management of those risks is seen as a high priority, according to the survey.
The survey does not ask whether risk management is only now important, but we can infer this from another question which asks whether the level of investment in risk management has grown as a percentage of total revenues in the past three years. Sixty-five percent say it has risen and, of these, 18 percent say it has grown substantially. What is more, a slightly higher percentage (66 percent) expects the proportion invested in risk management to rise in the next three years, suggesting that companies will not be relaxing their guard any time soon.
A full 70 percent of respondents say that regulatory changes have caused either substantial or moderate alterations in their risk management and reporting processes in the past two years.