Global Risk Landscape: Cyber risk key threat in Asia Pacific
26 May 2017
For the Asia Pacific region, cyber risk has been identified as the main organisational risk senior executives face in 2017, and disruptive technologies and reputational risk posing the most challenges over the next ten years, according to a comprehensive report published today by leading accountancy and business advisory firm BDO.
The BDO Global Risk Landscape 2017 report, gathered insights from more than 500 c-suite and senior level experts across 55 countries on their perception of risk. While the Asia Pacific region identified cyber risk as the key threat, globally the top three risks identified were: regulatory risk, economic slowdown/slow recovery, and increasing competition.
Marita Corbett, Partner in Risk Advisory at BDO Australia said “The survey results highlight a growing recognition that responsibility for risk management ultimately comes from the top, with increasing evidence of regional similarities in a globalised and interconnected world.”
“The challenge for businesses leaders is in how they adapt to this riskier world.
How they identify and respond to current risks and opportunities and how they
identify emerging issues that are likely to impact them further down the line.”
“Resilient organisations, those destined to thrive regardless of the challenge, will have a strong risk radar and the ability to respond quickly and decisively” Ms Corbett said.
Report participants were surveyed early in 2017. Interestingly they predicted an imminent global ransomware attack, which came to fruition recently through the ‘WannaCry’ incident. This most recent report supports the findings from last year’s BDO/AusCERT survey, which showed that nearly a quarter of the organisations had experienced a ransomware attack in the past 12 months.