As awareness of risk exposure expands, boards have been pushing for a single view of all risk, assurance and audit activities. Upgrades to risk management infrastructure has seen a pick up of a range of independent systems with the glue being applied via BI frameworks, attempting to display everything in one place. But fundamental problems remain: differences in methodologies, terminology, categorisations, measures, and processes, have ensured that consistency remains elusive. Management teams, audit committees, and boards still lack a clear, accurate, and comprehensive picture of the risks to their organisation and the monitoring in place.
How much time are you spending massaging data to make sense?