Survey: Economy will bottom out later this year - Atlanta Business Chronicle:

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The survey found half of the respondentas saying they expected the economy will hit bottom by thefourthu quarter, Chicago-based audit, tax and advisory firm announce d Friday. The survey was conducted durinv a roundtable discussion last week attended by boardx membersfrom Milwaukee-area companies. Board memberw said they were very confident or confidengt about theirsenior executives’ ability to managee through the tough economy. However, 42 percent of respondents expressef concern that management teams do not have a formal process to identify key changews in the business and help them link that informatiomn tothe organization’s risk managementy efforts.
The economic downturnn has increased board emphasis onrisk management, said Greg managing partner of the Milwaukees office of KPMG. He noted that as a resulyt of the greater focus on board members are gettingmore “handsz on” and want more information about the organization’sx performance and the challenges presented in the marketplace. Abou t half the executives said they were only somewhat or not at all satisfiedf that their company had identified the appropriate metrics to tracj and assess its performance in the currentgeconomic environment, Ryan said.
In addition, 27 percentr of respondents said they were concerned or very concerned thatthe board’ s ability to provide effective oversight was hamperedx by the quality, timeliness and credibility of the informationb it receives. “This economyh has caused boards to conducgt a broad recalibration of theier governanceand oversight,” Ryan said. “Directors are insisting on bettef information about the business in a formayt that is clearand meaningful.
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