Businesses encouraged to learn from 2009’s disasters to be better prepared for risks in 2010

Sydney, 9 November, 2009 – RSM Bird Cameron warns organisations to prepare now for the unexpected in 2010.

As 2009 saw company performance affected by natural disasters, the global financial crisis (GFC), rising bad debts and budget deficits, the firm is encouraging businesses to see these as warnings that they need to re-evaluate risk management for 2010.

RSM Bird Cameron’s director for risk management, Jean-Marc Imbert, shares eight management tips to help businesses survive any potential risks that may turn up in 2010.

1. Beware of fraud

Organisational changes have increased the risk of fraud. Executive management focused on executing new strategies has become oblivious to potential fraudulent behaviour, and the number of changes to processes and controls is on the rise due to strategic and structural changes.

Imbert says, “To address this risk, businesses must demand much more than fraud risk assessments and controls; they need to recreate a culture of fraud awareness.”

Businesses should implement an anti-fraud program, perform regular disbursement reviews, and align IT security risk assessment with enterprise relationship management. Read more ❯