Outlook 2023: Navigating New Threats & Emerging Opportunities

What lies ahead in 2023? It can be summed up in a single word: risk. In a detailed new report, we examine the landscape as it will appear in the next twelve months.

Risk will permeate every aspect of doing business, and leaders at every level must ensure that the right steps are being taken — from audit to compliance to ESG and beyond.

Executive Summary

Risks are appearing at all angles — and at a much higher velocity than ever before. Our post-COVID, digitally driven world has made business quicker and easier in many respects. But it has also made organizations more vulnerable. As the reliance on external remote services continues, the scope for cyber attacks and data breaches also rises.

Moreover, in a world riven by economic turbulence, boards must tread carefully and plan in detail. Coupled with ever-increasing regulatory scrutiny, the potential missteps — not to mention the financial and reputational ramifications of getting it wrong — are many.

But this is a time for opportunity, not for reticence and stepping back. This report explores how boards and leadership teams can gain the visibility they need to navigate an uncertain future. Learn how to translate data into insight to mitigate risk and seize opportunities for growth.

  • RISK
  • ESG
Accountability Sits With the Decision-Makers

83% of investors say individual directors should be held accountable for climate change disclosures and risk management. (ISS Global Benchmark Policy Survey)

2023 outlook report governance statistic
Supply Chain Turmoil Continues

Challenges arising from the COVID-19 pandemic and Russia’s invasion of Ukraine could result in a potential €920 billion cumulative loss to gross domestic product (GDP) across the Eurozone — or 7.7% of GDP — by 2023.


2023 outlook report risk statistic
Seize Opportunity in ESG

ESG and sustainability-related engagements currently make up roughly just 1% of internal audit plans. Make your team the outlier in this area, and get ahead of your peers and competitors.

(PKF O'Connor Davies, LLP)


2023 outlook report audit statistic
Privacy Matters

Changing government regulations through 2023 will require organizations to ensure the privacy rights of 5 billion citizens — a scope of more than 70% of the global gross domestic product (GDP).



2023 outlook report compliance statistic
Concerns Remain About a Lack of Understanding

Fewer than two-thirds of directors say their board understands the company’s climate risk strategy or the internal processes and controls around data collection, and 44% of directors lack understanding of the company’s carbon emissions.



Outlook 2023 ESG infographic

Download the 2023 Outlook Report

Highlighting key trends and insights, the 2023 Outlook unpacks critical risks across the global landscape. Download the report to learn how governance, risk, audit, compliance and ESG teams can drive organizational resilience and be ready for anything.