A recent survey of more than 200 senior financial services executives suggested that changes in corporate governance were driven by the desire to comply with regulations, rather than to improve institutions’ management tools, and that companies aren’t reaping the potential strategic advantages of improved governance, Big Four firm PricewaterhouseCoopers reported.

The study, “Governance: From compliance to strategic advantage,” found that 69 percent of respondents agreed that they now had a more systematic process of managing risk in place, and most felt that the “tone at the top” had changed to reflect a greater emphasis on corporate governance.

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