Although investment in emerging markets continues to climb, Canadian companies aren’t giving as much thought to risk management strategies as they should be, according to a recent survey by Ernst & Young.

Ernst & Young’s Risk Management in Emerging Markets survey indicated that 60% of Canadian companies have no emerging market risk management strategy in place. Carol Willson, executive director, risk advisory services, with Ernst & Young, says Canadian companies that invest in emerging markets such as China or Brazil need to focus on risk exposure or they’ll miss business opportunities. The study also indicated that only 46% of Canadian companies admit that their board of directors are involved in managing risk in emerging markets business, compared to 53% of global respondents.

For the survey, Ernst & Young interviewed more than 900 senior executives, 435 large multinational companies(with headquarters located in 12 developed countries), and 501 companies in the emerging markets of Brazil, Russia, India, China and Turkey.

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