Financial & Corporate Services
April 2014 Issue
Content is updated daily

Company Directors Rank Risk Management As Top-Level Concern

Boards of directors nationwide rank risk management as the primary concern for their companies, according to a recently released study compiled by accounting and consulting firm BDO USA. The study further indicates that despite the concern, more than half the surveyed companies do not have a chief risk officer, and an even larger majority has no risk committee in place.

The survey comes in the wake of the robo-signing scandal that exposed misconduct at multiple points throughout the foreclosure process and highlights how improper procedures can exist at multiple levels of any organization.

Notaries play a key role in their organization’s risk management efforts. They serve on the frontline to protect consumers against forgery, imposture and other misconduct, and to help ensure compliance. As organizations act on the risk management concerns of company directors, Notaries and those that supervise them can play a crucial role in a comprehensive corporate risk management plan.

More than 100 public company directors participated in the BDO Board Survey, from organizations whose revenues are between $250 million and $750 million. The survey was conducted in April, 2011.

Key Points:

  • Risk Management a key concern for boards of directors
  • A majority of company have no risk committee in place
  • Notaries play a key risk management role in organizations

Additional Resources:

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