The Technology Risk Radar enables risk and audit professionals to make better informed decisions about the risks they should address while providing insight into where reputational risks may lie.
What are the current and emerging technology-related risks that businesses face? What types of incidents have been reported in the press? What are the trends in different industries? And what are the risks on the horizon facing businesses tomorrow?
KPMG’s Technology Risk Radar seeks to provide answers to such questions by combining extensive analysis of reported technology incidents with qualitative insight from industry specialists. It provides a broad-ranging view of the global technology risk landscape by offering insight into what’s going on, and what’s going wrong, across the market.
The Technology Risk Radar enables risk and audit professionals to make better informed decisions about the risks they should address while providing insight into where reputational risks may lie. Clients have told us that they have found this information invaluable in audit and risk planning exercises as it helps point them towards where the risk lies and what’s driving it.
This third version is a refresh from 2015 and is based on another year of research covering numerous publications and web sources around the world. We filtered these for duplication, categorising and cross-referencing them to produce an overall analysis and a view sector-by-sector.
KPMG member firms’ industry experts then complemented this data by providing a narrative.
Across most sectors we saw new topics emerge such as digital labour and social media. But KPMG member firms continue to see well-known risks around cyber security, use of third-party services and legacy systems.
We all know there is a universal shift to a more digitally connected world. This means businesses need more advanced risk governance and management. The increased speed of technology developments and their impact on business models and operations means businesses have to keep a constant eye on evolving risks, taking a rolling view on what is relevant to them.
And, as organisations increasingly partner with other organisations and service providers, they need to consider risks from the ‘extended enterprise’ perspective. The value chain is only as strong as the weakest link.
On the plus side, IT investment is back in vogue and many organisations are replacing legacy systems to allow them to keep up with competitors and new entrants. The best way to succeed with new IT investment is employing the right level of assurance over the right risks – for which this edition of Tech Risk Radar should help.
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