More than 65 percent of the CFOs and 70 percent of the audit committee members surveyed by accounting firm Crowe Chizek cited managing enterprise risk as the biggest challenge facing their organizations over the next 12 months.

Enterprise risk management was considered an even bigger challenge than improving financial reporting and improving internal controls for CFOs. When asked about specific risk management tasks, less than 25 percent of senior finance executives felt that their company's performance was excellent on any of the tasks. 

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