Fewer than 25% of executives report their organizations continuously monitor risk, according to a Deloitte and Forbes Insights survey, and more than a quarter (27%) said the risks posed by social media would be increasingly important.
“Social media wasn’t even on the radar a few years ago, and we’re now seeing it ranked among the top five sources of risk, on the same level as financial risk,” said Henry Ristuccia, partner, Deloitte & Touche LLP and co-leader of Deloitte’s Governance and Risk Management services. “The rise of social media is just another contributor to the volatile risk environment companies are being forced to navigate. The current marketplace seems to require that organizations be nimble in their risk assessment approach, whether it’s dealing with what employees post on social networks, or how they’re coping with regulatory changes or taking advantage of the opportunities rewarded risks can create.”
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