The implications of the Deloitte study's findings for other companies are significant. It suggests that many companies may not be adequately disclosing their risk management strategies and how these align with their overall business strategy. This lack of transparency could potentially lead to issues with governance and oversight. As a result, companies may need to consider adopting frameworks like the Deloitte Governance Framework to improve clarity, visibility, coordination, and effectiveness within their organizations.

stars icon
36 questions and answers
info icon

The Deloitte Governance Framework was created in response to a need for increased disclosure in governance and risk oversight. This was identified in a Deloitte study which found that only 41% of Financial Statement Item (FSI) companies disclosed whether their risk management and oversight aligned with their strategy. The framework aims to improve clarity, visibility, coordination, and effectiveness within organizations.

The key takeaways from the Deloitte study on Financial Statement Item companies are that while these companies were maintaining governance and oversight, only 41% revealed whether risk management and oversight at the company aligned with strategy. This indicated a need for increased disclosure regarding governance and risk oversight, leading to the creation of the Deloitte Governance Framework. This framework aims to improve clarity, visibility, coordination, and effectiveness within organizations.

The potential drawbacks of the Deloitte Governance Framework are not explicitly mentioned in the content. However, like any governance framework, potential drawbacks could include the possibility of over-regulation, stifling of innovation due to strict adherence to the framework, and potential resistance from employees due to changes in established processes and systems.

View all 36 questions
stars icon Ask another question
This question was asked on the following resource:

Deloitte Governance Model

Improve clarity, visibility, coordination, and effectiveness within your organization with Deloitte'...

Download template
resource preview

Download and customize more than 500 business templates

Start here ⬇️

Voila! You can now download this Presentation

Download