Navigating Geopolitical Risk: Building Resilience Requires Collaboration in a Challenging World
The Chartered Institute of Internal Auditors has released their new report, 'Navigating Geopolitical Risk'.
The aim of this thought leadership report is to provide internal audit professionals with ideas, approaches, and practical tips to help support their organisations in navigating geopolitical uncertainty. Geopolitical uncertainty has for several years been ranked by Chief Audit Executives as one of the top risks facing organisations, as evidenced in our annual Risk in Focus survey. In fact, last year it was ranked the third biggest risk. However, despite its growing prominence and severity, geopolitical uncertainty is still the risk that, according to our research, internal audit spends the least time auditing. There is growing recognition that this needs to change, and this report aims to support internal audit professionals in making this change.
The backbone of the research that supports the report was based on a series of six scenario-based roundtables attended by senior internal audit executives, senior risk management executives and geopolitical experts, that form case studies in the report. These are:
- Economic meltdown: A global crisis on the horizon?
- Conflict involving China: Taiwan and the South China Sea
- War in Ukraine: Global implications
- Climate change and geopolitics
- US politics and democracy: Challenges to global stability
- Cyber security and geopolitics