Head, Director of Auditing Practice Standards, Financial Reporting Council of Nigeria (FRCN), Adeshola Amoo, yesterday, submitted  that risk management was critical to mitigating potential threats to business organisations.
   
Delivering a paper at the 2023 Annual Risk Management Professionals International Conference, organised by the Chartered Institute of Loan and Management in Abuja, with the theme “Risk Management Compliance, Corporate Governance and National Value Creation,” he observed that the dynamic business landscape, corporate unpredictability had become a significant challenge for organisations.
  
Amoo noted: “Factors such as economic volatility, regulatory changes, technological advancements and global events have heightened the level of uncertainty that businesses face.
  
“Enhancing the ability to anticipate and respond to unpredictable events is critical to the success of any organisation.” He said to foster a culture of risk awareness, he canvassed use of data analysis that could help organisations identify patterns and trends indicating emerging risks

In his remarks, Associate Professor and Chairman of 2023 Conference, Muhktar Saidu, said the institute’s objective was to aid individuals, corporate organisations and governments to identify risks inherent in their activities with a view to providing an effective strategy to mitigate them.

The event witnessed  250 risk professionals from across the federation and beyond. It featured panel and roundtable discussions with sub-themes of ‘Risk Management, Panacea to Corporate Unpredictability’.
  
The News Agency of Nigeria (NAN) reports that the institute was established over two decades ago to fill the void in the specialist professional discipline of risk management practice in Nigeria and boasts of over 100,000 members globally with 30 state chapters in the most populous black nation.