ABSTRACT
PricewaterhouseCoopers Ltd carried out a study on the status of ERM practices among 26 of the 60 largest companies in Finland (PricewaterhouseCoopers 2008). In this study it was observed that although risk management has gained considerable attention – it is seen as good governance practice and good for business – it is still mostly not aligned with strategic and operational business decisions. If this is the situation in large companies, it can be assumed that the case in SMEs is similar or even worse.
