Businesses continue to face increasing uncertainty, rapidly emerging risks, and mandates from stakeholders to rise to the challenge to address a variety of risk concerns. In this 14th annual edition, 2023 The State of Risk Oversight: An Overview of Enterprise Risk Management Practices, the AICPA and NCSU Poole College of Management, once again have obtained expert insights from business leaders on the state of enterprise risk management practices and trends across all industries of varying sizes.
This study is conducted as a joint initiative between the AICPA and North Carolina State University (NCSU) Poole College of Management Enterprise Risk Management Initiative. This year’s report reflects insights from 454 risk business leaders addressing drivers for enhanced risk management, overall risk management maturity, the strategic value of ERM, leadership, identification and assessment, monitoring, and board structures. The impact of culture on risk management is a growing area of focus as organizations are reviewing and implementing policies regarding sustainability and diversity, equity and inclusion (DEI).
Included in this report, Appendix B, is a template to assess your organization’s culture and leadership support towards ERM. Discover the findings from the 2023 survey, see how your organization compares to those in your industry and size, and learn what you can do to improve your overall state of risk.