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RISK IN THE BOARDROOM


A BATTLE WORTH FIGHTING


KPMG research has found that many consumer products companies are not as far advanced in their risk management programmes as other industries. Michael Wilson, Partner in the UK, considers why this is and what companies can do about it.


by MICHAEL WILSON, Partner in the UK I © 2014 KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and a member fi rm of the KPMG network of independent member fi rms affi liated with KPMG International Cooperative, a Swiss entity. All rights reserved.


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FOCUS 24


t didn’t come as a great surprise to me when our latest research showed that consumer goods groups are generally behind the curve in terms of risk management programmes compared to many other industries.


For one thing, the consumer goods industry is not a regulated industry in the same way that, as say, the fi nancial services or energy sectors. Firstly, this obviously has an important impact on the way that risk management is approached. Secondly, consumer goods and retail often have low margins. Cost and profi tability will always be a bigger focus than a so-called ‘back offi ce’ issue like risk.


MANAGEMENT RISK


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