The OECD has published a review of risk management and corporate governance across 27 jurisdictions. This is the OECD's sixth peer review based on the OECD Principles of Corporate Governance (the Principles). The review describes how various jurisdictions have chosen to implement the Principles relating to risk management. It analyses the corporate governance framework and practices relating to corporate risk management in the private sector and in state-owned enterprises.
One of the key findings of the review was that while risk-taking is still a fundamental driving force in business, the cost of risk management failures is often underestimated. The review concludes that corporate governance practices should therefore ensure that risks are understood, managed and, when appropriate, communicated.