State of Risk Oversight: Enterprise Risk Management Practices – 2023
In light of evolving challenges linked to ongoing geopolitical turmoil, social change, economic volatility, disruptive technologies, environmental expectations, and a host of other uncertainties, innovative and forward-looking business leaders are strengthening how they proactively manage potentially emerging risks that can quickly derail their organization’s strategic objectives and goals. Failure to anticipate changing
uncertainties can quickly trigger a flow of risks that significantly impact business models and strategic plans.
Cyber Risk and Cybersecurity: a Systematic Review of Data Availability
Cybercrime is estimated to have cost the global economy just under USD 1 trillion in 2020, indicating an increase of more than 50% since 2018. With the average cyber insurance claim rising from USD 145,000 in 2019 to USD 359,000 in 2020, there is a growing necessity for better cyber information sources, standardised databases, mandatory reporting and public awareness. This research analyses the extant academic and industry literature on cybersecurity and cyber risk management with a particular focus on data availability.
Data Governance – Providing Assurance regarding Data Risk Management
While the concept of risk related to data ethics is relatively new, Chief Audit Executives (CAEs) predict that its relevance will grow rapidly over the next five years. Complexity in the collection, analysis, and use of data is expanding rapidly, complicated by artificial intelligence.
Dynamic digital capabilities and supply chain resilience: The role of government effectiveness
Organizations in recent times are increasingly investing in building supply chain resilience following disruptions due to natural disasters, geo-political crises, and pandemics. A lack of government support has exacerbated the disruption to supply chains in some regions of the world. The positive influence of digitalization on social inclusion, government accountability, and creating a more open environment is well understood. Despite this, different countries have shown varying degrees of digital responsiveness during the pandemic as they attempted to deal with the effects of various COVID strains.
IRMSA Risk Report – South Africa Risks 2015
The first annual Institute of Risk Management South Africa’s (IRMSA) South Africa Risks Report 2015 has been compiled within a specific context – that of a country still reeling from political and economic turmoil.
The Association of Mineworkers and Construction Union (AMCU) on 29 July 2014 announced the end of a 5-month platinum sector strike by 80,000 workers which resulted in a fall of nearly 25% in mining production. South Africa’s credit rating was downgraded by Standard & Poor’s (S&P) and Moody’s. The country’s outlook was shifted from stable to negative by Fitch Ratings, meaning that the country is a single notch away from junk status. The South African government continued to experience difficulties to meet the expectations of the population in terms of the fight against unemployment, poverty and corruption, potentially giving rise to increased social instability. The International Monetary Fund (IMF) slashed its economic growth forecast for South Africa by 0,3 percentage points to only 1,4% for 2014 and by 0,4 percentage points to 2,3% for 2015, suggesting that the sustainability of the country’s economy is under severe pressure.
King V Code on Corporate Governance – Disclosure Framework
The King V Disclosure Framework operationalises the “apply and explain” regime by prescribing how organisations must disclose application of the Code’s principles, exceptions on recommended practices, and conclusions on the four governance outcomes. It requires governing body approval, annual review and publication alongside other external reports, and allows cross‑referencing to integrated and other reports to avoid duplication. For each of the thirteen principles, it sets out an exception declaration plus specific qualitative disclosures, focused on satisfaction statements, key activities, and governance judgements needed for stakeholders to assess the quality of governance.
Integrated Strategy, Risk & Resilience (ISRR) Toolkit: Phase 3 Templates
Integrated Strategy, Risk & Resilience (ISRR) Toolkit: Phase 3 Templates In Phase III (Perform and Achieve), the toolkit shifts into execution with an integrated strategy process guide, a strategy workshop pack, a strategic initiative charter, a risk treatment and resilience planning matrix, a multi‑year resilience roadmap, and templates for incident management, crisis management, business continuity……...
A Strategic Management Process: The role of Decision-making Style and Organisational Performance
Purpose – The purpose of this paper is to present a conceptual framework for integrating strategic thinking factors, organisational performance and the decision-making process.
Nonprofit Organisational Resilience: Proposing a Conceptual Adaptive Capacity Framework
Nonprofit organisations (NPOs) play a key role in resolving the challenges and
inequalities prevalent in South Africa; however, turbulent events have led to existential concerns for many NPOs. It is important to understand how NPOs can augment their organisational resilience to mitigate existential concerns.
Global Risk Management Survey – Key Findings – 2023
Responses to the ninth edition of our Global Risk Management survey suggest that doing business has not become any easier since the last time we conducted the survey, in 2021. In fact, our respondents feel that doing business has become even more volatile and uncertain.