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Recent Editions
Risk Channel
North America
Audit committees at the largest U.S. companies have expanded their oversight this decade beyond financial challenges to encompass risks in cybersecurity, sustainability and artificial intelligence (AI), according to a new report from EY. The proportion of companies citing sustainability as an audit committee responsibility surged to 22% this year from 6% in 2021, EY found in a survey of Standard & Poor’s 500 firms. A growing proportion of audit committees oversee cybersecurity risk at most large companies, EY said. The share of S&P 500 companies that cite cybersecurity as an audit committee responsibility increased to 77% this year from 25% in 2019, according to EY. Companies are beginning to disclose some level of oversight for AI risks, and most commonly cite the risk as a point of audit committee oversight, EY said.
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UK/Europe
Ericsson CEO Börje Ekholm says Europe is one of the weakest telecom markets in the world - and policymakers must encourage more consolidation and cut regulation there or else the Swedish telecom equipment maker will continue to shift investments to overseas markets. “Europe is falling behind,” Ekholm said. “The natural conclusion of that is we’ll be shrinking in Europe and growing in North America.” Relocating Ericsson’s headquarters from Sweden to the US is “always a question that comes up,” he said, observing that Ericsson has deep ties to Sweden, “But, you know, we always need to also look at: How will the world look in the future? So we don’t know . . . Would we relocate at some point in time? That could well happen.”
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