A number of the UK’s publicly listed companies have not been monitoring non-financial business risks according to Covalent Software, a provider of corporate management applications.
Covalent’s risk research into the annual reports of FTSE 100, FTSE 250 and AIM 100 companies reveals that only 35% of the 20 most commonly monitored risks by these organisations are non-financial. Given recent high profile incidents surrounding non-financial issues, such as the Toyota car recalls and closing of airports during the snow, Covalent warns that companies need to monitor these non-financial risks in the same way they do things like the economic climate and inflation.
Peter McHugh, chief executive officer (CEO) and founder, Covalent Software, said: “The direct impact to a company’s bottom line that failure to mitigate financial risks would have, rightly makes them high on the agenda for companies of all sizes. However, there are a wide variety of non-financial risks that are not being monitored as closely as they should be, which could also have a major detrimental effect on an organisation.”
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.