Risk in Focus 2023 | Board Briefing

In 2022, a ‘perfect storm’ of high-impact, interlocking risks threw many businesses into a permanent state of crisis. Following an ongoing pandemic, the war in Ukraine intensified supply chain failures, fuelled inflation and energy price increases.

Boards must rapidly adapt to the new reality of heightened geopolitical instability, climate-related natural disasters, looming recession, an accelerating cost of living catastrophe in Europe, food shortages, employee welfare and skills deficits, and a rapidly industrialising cyberattack landscape.

This briefing summarises insights from the latest edition of our annual report, Risk in Focus 2023, which this year is a collaborative project between ten institutes of internal auditors from across Europe.

The complete report Risk in Focus 2023 can be found as well on the IIA website.