Managing IT risks and compliance are major concerns for many organizations, including those in public accounting, business and industry, consulting, and government/ not-for-profit. Organizations that do not understand, or have not considered, the risks associated with information technology are generally not prepared to mitigate such risks. As a result they are ill-prepared to face the pressures that accompany increased vulnerability within the IT environment.
According to the results of the first Regulatory and Risk Management Indicator conducted by Wolters Kluwer Financial Services, financial institutions are feeling even greater regulatory and risk management pressures than ever before as issues surrounding IT risks and compliance seem to exponentially increase from year to year. The Regulatory and Risk Management Indicator highlights the concerns that financial professionals have with risk management and the obstacles they face in managing those risks effectively.