Risk survey identifies the key risk concerns of corporate Australia and New Zealand

Corporate governance is the number one risk concern for Australian and New Zealand organisations - for the second year - according to research from Aon.

Launching the results of Aon's latest annual study into risk trends and costs of managing and financing risk, Ross Castle, Aon Australia's national manager client research and development said Aon's risk survey identified the key risk concerns of corporate Australia and New Zealand.

Castle commented: "The impact of the Australian Stock Exchange Best Practice Recommendations on Corporate Governance, the impact of Sarbanes-Oxley, and the introduction of International Financial Reporting Standards, as well as a myriad of other regulatory and compliance obligations is top of mind for Australian and New Zealand executives this year.

"Along with corporate governance, systems risks (technology, information management and disaster recovery) and human resources (staff attraction and retention, employee injuries and absenteeism) were rated as the most critical risk concerns for 2006/07. Lack of innovation (failure to change/adapt) and market environment (economic, country and political risks, competitor actions and substitute markets) continued to emerge as increasingly important risk concerns."