ABSTRACT
Certain organisational structures, committees and functions have become synonymous with risk governance, as explained in Chapter 2. But since these structures are often undermined by cultural deficits, Chapter 3 investigates the vexed issue of risk culture.
The term ‘risk culture’ is often misunderstood, with some mistakenly seeing risk culture as distinct from the broader organisational culture. As a leading international researcher in the area, Professor Sheedy provides an evidence-based understanding of what risk culture is and how to assess it. The chapter links risk culture to risk management maturity and paints a picture of maturity that organisations can aspire to. It also explores the role of leaders, including directors, in building that culture, while acknowledging the challenge of culture change.
