In April, Kreston Pedaborisk will hold a breakfast seminar to explore how Enterprise Risk Management can enhance business resilience amidst economic and regulatory instabilities, as stated by the company on Monday.
The seminar titled “Enhancing Corporate Resilience: Incorporating Enterprise Risk Management for Long-term Development” will gather regulators, industry specialists, and corporate leaders for stability discussions.
Nosa Ogebebor, a partner at Kreston Pedabo, stressed the importance of companies transitioning from seeing Enterprise Risk Management merely as a regulatory obligation to embracing it as an integral part of their strategic planning.
He observed that although regulatory institutions like the Central Bank of Nigeria and the Securities and Exchange Commission have advocated for more robust risk management systems, numerous companies—including many small and medium-sized businesses—are still without organized methods because of scarce knowledge and experience.
Ogebebor highlighted regulatory uncertainties, economic fluctuations, and escalating cybersecurity threats as major concerns for Nigerian enterprises.
Nevertheless, he pointed out that progress in technology along with an increasing emphasis on corporate governance offer businesses the chance to enhance their risk management structures.
The consequences of inadequate or absent ERM strategies can be significant, putting companies at risk for financial setbacks, legal fines, and harm to their reputation,” he emphasized, underscoring that taking preemptive action in managing risks is much more economical than addressing them once they become crises.
He emphasized that adhering to international benchmarks like the COSO ERM Framework, ISO 31000, and guidelines from the Financial Action Task Force is crucial for Nigerian enterprises aiming to boost governance practices, draw in overseas investments, and strengthen regulatory adherence.
The seminar will include prominent speakers such as regulators and professionals from the industry, who will provide their perspectives on implementing Enterprise Risk Management in different fields.
The discussions will address how Enterprise Risk Management (ERM) contributes to business resilience, explore effective approaches in managing risks and ensuring good corporate governance, examine the influence of cybersecurity threats on ERM, and present case studies showcasing firms that have effectively incorporated ERM tactics into their operations.
Ogebebor viewed the event as a crucial step, considering the changing economic environment in Nigeria.
He observed that by gathering regulators, industry leaders, and risk management specialists, the seminar intends to promote a proactive risk culture amongst businesses in Nigeria.
Provided by Syndigate Media Inc. (
Syndigate.info
).