Organisations are looking to governance and risk management to become more strategic and forward looking with a focus on creating as opposed to merely preserving value.  In this context they will be looking to their advisors to offer a genuinely holistic, integrated, future-focused and process-oriented approach to governance and risk.

Those organizations that succeed will be those with the strategic vision to see that sophisticated governance and risk management has the capability to deliver beyond the basic goals of reducing potential financial losses and meeting regulatory and compliance requirements.  Organizations with the desire to improve performance through optimizing governance and risk management, can not only reduce volatility and increase sustainability, but can enhance corporate reputation and build stakeholder value.

Once largely focused on avoiding loss and complying with regulations, governance and risk is now increasingly required to show that it adds value – namely, measurable, positive contribution to the organisation.  This shift in focus requires organisations to think differently about the design and scope of governance and risk management.  As risks assume a more central role in the management of today’s organization, companies need to think carefully about the way in which they structure governance and risk management functions to ensure efficient operations and deliver maximum value.