Webcast: One year on - The state of the NZ economy
Brad Olsen, Senior Economist with Infometrics, looks at the state of the New Zealand economy one year on from the start of the pandemic.
The IoD, in partnership with Marsh, released their second Directors’ Risk Survey Report in February 2016.
Most directors (56.1%) believe risk is increasing in today’s business environment, with 74.5% of directors saying their boards are spending more time discussing risk management than they were two years ago.
Technological disruption continues to be a prominent business risk, with cyber-risk emerging as a key external risk for the first time. Most directors are confident that they could handle a major IT disruption with 90.6% saying they have a procedure in place to manage, although just 19.4% can manage data loss and even more (35.2%) are not able to keep up with technological advances.
Directors perception of their own personal risks only decreased slightly on 2013 results with reputational risk 61.3% (62% in 2013), being held personally liable for a legislative breach at 39.2% (42% in 2013) and loss of personal assess if called to account at 38.1% (42% in 2013).
Read the Directors’ Risk Survey Report 2015 on Marsh's website.