According to auditing and consulting firm Ernst & Young, a large number of enterprises today possess misaligned and fragmented risk functions, and that is substantially hampering their business performance.
Citing the findings from their firm's global Future of Risk study -- which came out of a survey conducted June through July this year, and involved the interview of more than 500 senior executives (chiefly those at the 'C' and Board levels at enterprises with presumably annual global revenue figures going beyond US$1 billion) across the globe, 29 per cent of whom from the Asia Pacific region -- Ernst & Young executives said that 96 per cent of organisations believe they have an opportunity to improve their risk management functions, and almost half recognise that committing additional resources to risk management could give them competitive advantage moving forward.
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