Being a smarter risk taker through digital transformation

Risk in Review Study 2019

The speed and scale of digital rollouts put risk and internal audit professionals in a tight spot.

The 2019 Global Risk, Internal Audit & Compliance Studies sought the input of over 2,000 executives in 99 territories across 27 industries to understand what differentiates risk functions in a digital transformation. Our three studies: Risk in Review, State of the Internal Audit Profession and State of Compliance reveal that organisations with more-digitally-fit risk functions take smarter risks in their digital journeys - we call this group Dynamics.

The groups tell us that risk management, internal audit and compliance professionals (or, collectively risk functions) —far from stalling digital initiatives — can help their organisations meet or beat their transformation goals. Certain risk functions are there now. For others, it’s time to take action.

The Dynamics represent the top quartile of risk functions - they are digitally fit and engage early in digital initiatives. The Actives  are taking the necessary steps to get there and the Beginners are lagging behind. 

Being a smarter risk taker through digital transformation

2019 Risk in Review Study

Risk functions that are digitally fit position their organisations to make smarter risk decisions as they move through digital transformation. Our study shows that when risk functions are digitally fit, the benefits an organisation receives multiply in the forms of faster progress and greater-than-anticipated payoffs on digital technology investments, and smarter risk taking.

Risk in Review
Find out if you have what it takes to make smart decisions about digital strategies and business risks.

If you are involved in digital initiatives, take our quiz to see how your strategies and moves to become more digitally fit compare to those of your peers (and competitors).

Take our quiz to learn how you compare

Six habits fueling smarter risk taking through digital transformation

There are six behaviours that lead to more-digitally-fit risk functions.

1. Go all-in on the organisation’s digital plan

2. Upskill and inject new talent to move at the speed of the organisation

3. Find the right fit for emerging technologies

4. Enable the organisation to act on risks in real time

5. Actively engage decision makers of key digital initiatives

6. Collaborate and align to provide a consolidated view of risks

Contact us

Jason Agnoletto

Partner, National Leader, Internal Audit Services, PwC Australia

Tel: +61 3 8603 2180

Andrew McPherson

Partner, PwC Australia

Tel: +61 2 8266 3275

Nicole Salimbeni

Partner, Risk Consulting Leader, Risk & Regulation GTM Leader, PwC Australia

Tel: +61 2 8266 1729

Scott Hendry

Partner, Risk and Controls Optimisation Lead, PwC Australia

Tel: +61 2 8266 0266

Kim Cheater

Partner, PwC Australia

Tel: +61 8 8218 7407

Sean Rooney

Partner, PwC Australia

Tel: 61 7 3257 8366

Joshua Chalmers

Partner, PwC Australia

Tel: +61 (2) 6271 3733

Justin Eve

Partner, PwC Australia

Tel: +61 8 9238 3554

Follow PwC Australia