Banks must urgently rethink their approach to risk culture to prevent further Credit Suisse-style collapses, according to a February report published by the Association of Certified Chartered Accountants, a global professional accountancy body.
The report — Risk cultures in banking: Where next? — reveals that current behaviours, particularly a lack of accountability, are major blind spots. The report highlights the role that behavioural science and accountancy professionals have in embedding new approaches to risk culture.
