For the fourth consecutive year, board members and top-level executives see regulatory change and heightened regulatory scrutiny as the year’s top risk.
In a survey on the current risk environment by consulting firm Protiviti and the Enterprise Risk Management Initiative at North Carolina State University’s Poole College of Management, 60% of respondents believe regulatory risk will continue to have a significant impact on their organizations and are concerned about the impact global regulations will have on strategy.
Tied for first place, 60% of respondents also cited “economic conditions in markets currently served may significantly restrict growth opportunities” as a risk with significant possible impact in 2016.
Cyber rounded out the top three, with 57% saying their organization may not be sufficiently prepared to manage cyberthreats that could significantly disrupt core operations or damage the company’s brand.