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The state of enterprise risk management (ERM) in Canada: A benchmark study

In today’s fast-changing environment, managing risk is critical to success. Are Canadian organizations up to the task? We surveyed 160 ERM leaders to find out.

 ERM has become more critical than ever in an environment where major threats—such as cyber events, privacy risks and business disruption—are constant. If ERM is to effectively protect organizations in Canada against risk, and to also help them seize the opportunities that may come with a rapidly evolving risk landscape, the discipline will have to further evolve and mature.

ERM programs are widely present in Canadian organizations, but dedicated resources may not be sufficient for ERM to live up to its full potential. This study aims to develop a more comprehensive view of the practice and create a national benchmark for Canadian organizations. Find insights from professionals who lead ERM in their organizations and learn how they are managing enterprise risk in today’s uncertain economic environment.

This joint research paper by CPA Canada, The Conference Board of Canada and the Global Risk Institute in Financial Services (GRI) looks at 10 key findings from a 2018 survey on the state of ERM in Canadian organizations. 

Key Takeaways: 

  • the ways ERM functions are structured through various surveyed organizations
  • the oversight role boards of directors have over ERM functions 
  • average reporting frequencies 
  • what’s on the minds of ERM leaders