• Search in Protiviti.com

Analysis Across Executive Positions

Notable observations – 2023 risks

  • The overall impressions collectively across all executive positions with respect to the magnitude and severity of risks in the environment are that the level of risk is increasing from 2022 and all groups view it as higher than in 2021.
  • This increase in risk expectations may be the result of an overall concern about: first, how quickly business conditions have changed and are expected to change; second, the complexity of interrelated issues underpinning the risk landscape; and third, the trend toward increased expectations and transparency regarding environmental, governance and other non-financial matters.
  • In relation to our prior year results, while most executives rated fewer specific risk issues as “Significant Impact,” board members increased their “Significant Impact” risks from zero in 2022 to four in 2023.
  • There are noticeable differences in views about 2023 risk conditions across executive type. The disparity of perspectives among executives and directors begs for more engagement in conversations with one another to forge a robust view of the organisation’s risk profile.
  • Overall, the results reflect how different roles offer varying perspectives when assessing risks in disparate environments and over longer versus shorter time horizons. It is of paramount importance that both the board and the management team engage in dialogue regarding the critical enterprise risks, given the different perspectives each brings to the table and the potential for a lack of consensus..
View breakdown
There is marked contrast in perspectives across various executive positions, which suggests there may be significant value in explicitly discussing overall impressions about the risk environment among key leaders, especially at the highest level of the organisation. Enterprise risk assessments should benefit from the influx of multiple, diverse perspectives.

Survey

December 8, 2022

Executive Perspectives on Top Risks for 2023 and 2032

Key issues being discussed around the globe in the boardroom and C-suite The level of uncertainty in today’s global marketplace and the velocity of change continue to produce a multitude of potential risks that can disrupt an organisation’s business model and strategy on very short notice. Unfolding events in Eastern Europe, changes in government leadership in...
Read more

Protiviti Member Firm Middle East Consultancy (Abu Dhabi), Protiviti Member Firm Middle East Consultancy (Dubai), Protiviti Member Firm (Middle East) Ltd. (DIFC), and Independent Consultants FZE (Sharjah) are the United Arab Emirates Member Firms of the Protiviti network of independent and locally owned consulting firms.  Member Firms are autonomous companies, are not agents of Protiviti Inc. or other firms in the Protiviti network and have no authority to obligate or bind other firms in the Protiviti network.

Loading...