KPMG Bahrain Unveils the Top Risks Report 2024

TDT | Manama

The Daily Tribune - www.newsofbahrain.com

KPMG in Bahrain is pleased to announce the launch of its highly anticipated Top Risks Report 2024. This comprehensive report provides an in-depth analysis of the critical risks that businesses and economies worldwide, including Bahrain and the wider GCC region, are expected to face in the coming year.

"Our latest Top Risks Report highlights the evolving landscape of geopolitical, economic, and technological challenges. Bahrain, with its strategic position in the GCC, must remain vigilant and adaptive to these changes. This report serves as a vital tool for businesses and policymakers to navigate these complexities and capitalize on emerging opportunities.", stated Jamal Fakhro, Managing Partner, KPMG in Bahrain

Jeyapriya Partiban, Head of Advisory, KPMG in Bahrain commented, "As Bahrain continues to diversify its economy and embrace technological advancements, understanding and mitigation of the identified risks will be crucial. Our report underscores the importance of robust governance and operational resilience, which are key areas for sustainable growth. Operational resilience and strategic risk management are more important than ever in today's volatile environment. This report provides actionable insights that can help businesses build resilience and navigate the uncertainties ahead.

The Top Risks Report 2024 provides key insights and recommendations to support business leaders to better prepare for the year ahead. Some of the key takeaways from the reporting
include:

 Supply chain resilience still a priority amid rising geopolitical tensions.

 Investment and location decisions based on political, not economic factors.

 Companies will have to take the lead on AI strategy and policies.

 Diverging trends on ESG regulation and corporate scrutiny.

 Companies will need to adopt a proactive stance on geopolitical exposure.

More than ever, companies should have a very clear view of their risk universe, the interdependency of their risks, and define their risk appetite and the playbooks for swift, consistent action.