Sep 24, 2015
From the Audit Committee Institute
Corporate boards are deepening their involvement in company strategy and refining their oversight of the critical risks facing the company, according to a recent global survey from KPMG.
More than half of the directors and executives surveyed said their board has increased its involvement in the formulation of strategy alternatives and sharpened its focus on improving risk-related information flowing to the board.
The survey responses—from more than 1,000 directors and senior executives in 28 countries— suggest that while many boards are clearly stepping up their game, significant challenges remain, including linking strategy and risk, and addressing growing cyber security risks.
Among the key findings:
- Boards continue to deepen their involvement in strategy—including execution.
- Effectively linking strategy and risk continues to elude many boards.
- Better risk information and access to expertise are (still) top of mind.
- Cyber security may require deeper expertise, more attention from the full board, and potentially a new committee.
- Oversight of key strategic and operational risks could be more-effectively communicated among the board and its committees.
For the full survey results, read Calibrating Strategy and Risk.
For more, read ACI’s Global Boardroom Insights on Risk Oversight.