Deloitte: There will be more investment in risk management

09/02/2010 Deloitte: There will be more investment in risk...

Financial institutions are set to improve their governance and risk management, according to one business services company.

Deloitte estimated that £32 billion was spent on threat control activities in 2006, but that figure is expected to double by 2012.

A total of 67 per cent of respondents said their firms' risk strategies were influencing behaviour, despite the fact that 93 per cent acknowledged their company had such plans in place.

Martyn Jones, chairman of the corporate governance services group at Deloitte, stated it is clear that fiscal organisations are investing more in risk management, but some were struggling with integrating it.

He added: "The fundamental issue is around behavioural changes - without changes in attitudes and behaviour no framework will be truly effective."

The news follows an announcement by KPMG that economic difficulty will be the biggest threat to UK businesses this year - with 59 per cent of those questioned viewing it as the greatest danger.

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