More stringent international regulations (Sarbanes-Oxley, Basel II framework, Solvency II) combined with an increasingly unstable business environment and the rise of new types of risk (increasing competition, new environmental concerns, etc.) are all strategic issues which require companies to have greater control over their business activities.
In this new environment, companies need to adopt a global and systematic approach in identifying, assessing and managing their risks. To achieve this, efficient risk management systems are essential.