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Four Ways to Improve Risk Reporting

by Ruchi Agarwal and Sanjay Kallapur

Four Ways to Improve Risk Reporting

Image Credit | Pop and Zebra

Companies have improved their risk reporting by strengthening the vertical and horizontal communication of risks, reporting near misses, and communicating risk digitally through apps.
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Risk reporting is often unconnected with business strategy and performance, and is considered merely as a matter of compliance, which defeats the purpose of risk management. This article describes four best practices of companies that have improved their risk reporting by strengthening the vertical and horizontal communication of risks, reporting near misses, and communicating risk digitally through apps. Better risk reporting involves simplification and incentivization. It enables organizations to improve risk management and risk culture overall.




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