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January 10, 2023 | Report
This multipart series is intended to help executives better mitigate their risks and execute their strategies; it highlights core topics where errors can create operational and franchise risks for even the best-run firms.
The fifth pitfall to avoid is an overdependence on external auditors. Reliance on external auditors to uncover internal risks can prove catastrophic when potential calamities are discovered too late. Instead, firms must establish their own internal methods for discovering risks in all forms.
The sixth pitfall to avoid is an overreliance on rating agencies. Ratings are useful reference tools but should not be substituted for a company’s own due diligence to gauge client and counterparty risks.
From Outsourcing Risk Management to DIY Threat Monitoring and Robustness
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