Reputational Risk Australia - 2017 Survey Report
Australia | Publication | September 2017
Reputational capital is the new black. Faced with changing consumer preferences, growing public mistrust and social media powered news, business leaders are highly sensitive to the pivotal role reputation plays in the success of each company.
In 2017, Norton Rose Fulbright surveyed business leaders across Australia with regard to reputational risk, and what it means for their respective organisations. The results outline the high awareness and good knowledge of different exposures that could results in reputational damage, but also point to certain areas for improvement.
Several strategies can help businesses manage reputational risk more effectively, and strengthen compliance across their corporate cultures:
- Maintain an open dialogue between board members, the executive team, general counsel and risk managers in order to have a more accurate, multi-faceted view of potential reputational threats, and a fit-for-purpose mitigation plan.
- Stress-test policies and processes against real-world risk scenarios regularly, and embed the learnings for continuous improvement. Constant monitoring is a critical part of ensuring compliance.
- Organise regular training for exposures that can result in reputational damage, ranging from cyber risk to ethical conduct and diversity. This can help further embed organisational values in your culture, and foster a culture of compliance.
To find out more about what reputational risk means to Australian organisations and benchmark your business against your peers, read our full report.
For more information, contact one of our risk advisory experts below.
Associated resources
List of pages
Recent publications
Publication
UK listing reform: Overview of final rules for listed funds
On 11 July 2024 the FCA published PS24/6 (Primary Markets Effectiveness Review: Feedback to CP23/31 and final UK Listing Rules) confirming the final form of the changes to be made to the UK listing regime.
Publication
English Commercial Court upholds comity in refusing anti-anti-arbitration injunction against Malaysian proceedings
In the recent decision of Euronav Shipping NV (Euronav) v Black Swan Petroleum DMCC (BSP) [2024] EWHC 986 (Comm) (the Judgment), the English Commercial Court has underscored the role of comity in international disputes.
Publication
Pensions Regulator to focus supervision on master trusts' investments, data and innovation
The Pensions Regulator has announced in a press release that its approach to the supervision of master trusts is evolving to focus more on investments, data quality and standards, and innovation at retirement.
Subscribe and stay up to date with the latest legal news, information and events . . .