A quick research survey of the OCEG worldwide community. April 2010
There is a wide range in the approach to the management of risk. In this survey of more than 250 respondents, 28% say that risk management is part of business management in their organizations, 25% use a team that is a combination of business management and internal audit , 26% have a risk team that is independent of both, 7% have risk management as part of internal audit and 14% report still having no risk team at all.
Nearly a quarter of US companies and fully half of European ones now have a risk management committee of the board that is separate from the audit committee. In general, European companies appear to be further ahead in embedding risk management into business processes.
This survey also asked:
- Does internal audit in your organization audit the risk management function?
- Does your organization do risk assessment of internal audit?
For the full survey responses download the poll results (make sure you are logged in first with your username and password). If you are interested in results from specific regions, industries or sizes of companies customized reports are available. Just contact us at info@oceg.org