Asia PR News

SYDNEY, Nov. 28 /MediaNet International-AsiaNet/ –

A survey conducted by SAI Global’s (ASX: SAI) LAWLEX and Operational Risk
magazine of more than 400 global risk and compliance managers and executives
has found that international financial services organizations are beginning to
view operational risk and compliance as an effective strategy to help them
improve their bottom line, and not just a business expense to please the
regulators.

When asked to rate the business outcomes and benefits that motivated the
roll out of their operational risk and compliance program, those surveyed
reported their top influences as:

* Improved internal controls (74%)

* Reducing reputational and regulatory risk potential (73%)

* Improved internal reporting (63%)

* More efficient business processes (63%)

According to General Manager of SAI Global’s LAWLEX, Ms Ann Wootton: “Only
28% of respondents identified “meeting compliance obligations” as an influence,
which signifies that financial services firms on a global scale are looking
“beyond the costs” and regard an effective operational risk programme as a
worthy investment for improved business benefits. A view that stands in stark
contrast to a recent survey of Australian financial institutions.”

“The survey results also indicate a growing threat to operational risk and
embedding and maintaining a culture of compliance, with a mere 8% of companies
reporting that they have completely embedded a culture of compliance within
their organisation. In fact 60% of respondents expect that creating a
compliance culture will be the most difficult obstacle in the next 18 months,”
said Ms Wootton.

The education of staff – which goes hand-in-hand with building a compliance
culture – garnered a strong 56%, while "effectively monitoring the control
environment" is a top concern for 57% of respondents.

Training was rated as a key activity in the survey, with 70% of respondents
indicating that they will spend up to $500,000 on training in the next 18
months, up from 58% in the previous period.

Spending on risk and compliance technology should also see a significant
increase in the next 18 months with:

* 55% of respondents expecting to budget up to $500,000 (up from 45%
previously);

* 20% expecting to spend between $0.5 and $3 million (up from 13%); and

* 8% expecting to spend as much as $10 million (up from 4%).

For the full survey results visit
http://www.lawlex.com.au/files/Culture_of_risk_and_compliance.pdf. For more
information on SAI Global’s compliance related products and services visit
www.sai-global.com or www.lawlex.com.au.

Media Inquiries
Tom Godfrey – SAI Global
+61 2 8206 6863 * +61 414 191 034 * tom.godfrey@sai-global.com

SOURCE: SAI Global

SYDNEY, Nov. 28 /MediaNet International-AsiaNet/ –

A survey conducted by SAI Global’s (ASX: SAI) LAWLEX and Operational Risk
magazine of more than 400 global risk and compliance managers and executives
has found that international financial services organizations are beginning to
view operational risk and compliance as an effective strategy to help them
improve their bottom line, and not just a business expense to please the
regulators.

When asked to rate the business outcomes and benefits that motivated the
roll out of their operational risk and compliance program, those surveyed
reported their top influences as:

* Improved internal controls (74%)

* Reducing reputational and regulatory risk potential (73%)

* Improved internal reporting (63%)

* More efficient business processes (63%)

According to General Manager of SAI Global’s LAWLEX, Ms Ann Wootton: “Only
28% of respondents identified “meeting compliance obligations” as an influence,
which signifies that financial services firms on a global scale are looking
“beyond the costs” and regard an effective operational risk programme as a
worthy investment for improved business benefits. A view that stands in stark
contrast to a recent survey of Australian financial institutions.”

“The survey results also indicate a growing threat to operational risk and
embedding and maintaining a culture of compliance, with a mere 8% of companies
reporting that they have completely embedded a culture of compliance within
their organisation. In fact 60% of respondents expect that creating a
compliance culture will be the most difficult obstacle in the next 18 months,”
said Ms Wootton.

The education of staff – which goes hand-in-hand with building a compliance
culture – garnered a strong 56%, while "effectively monitoring the control
environment" is a top concern for 57% of respondents.

Training was rated as a key activity in the survey, with 70% of respondents
indicating that they will spend up to $500,000 on training in the next 18
months, up from 58% in the previous period.

Spending on risk and compliance technology should also see a significant
increase in the next 18 months with:

* 55% of respondents expecting to budget up to $500,000 (up from 45%
previously);

* 20% expecting to spend between $0.5 and $3 million (up from 13%); and

* 8% expecting to spend as much as $10 million (up from 4%).

For the full survey results visit
http://www.lawlex.com.au/files/Culture_of_risk_and_compliance.pdf. For more
information on SAI Global’s compliance related products and services visit
www.sai-global.com or www.lawlex.com.au.

Media Inquiries
Tom Godfrey – SAI Global
+61 2 8206 6863 * +61 414 191 034 * tom.godfrey@sai-global.com

SOURCE: SAI Global