How one set of bean counters is addressing chief executives' big fears

 
Hayley Kirton
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Don't be fooled by the suit and glasses – this accountancy firm has got you covered (Source: Getty)

After half of chief executives let slip to them in a recent survey that they were concerned about their readiness to respond to a crisis, PwC has come up with a solution.

The professional services giant has today launched a new global crisis centre, which will pool together the most experienced talent the firm has for managing a crisis, allowing them to quickly develop crisis strategies and advise on the best ways to mitigate risks.

"It's not surprising that with the dynamic changes in society, from the speed of technological development and advanced regulatory changes, to changes in worldwide macroeconomics and the advance of urbanisation, that two-thirds of global chief executives believe that their business faces more threats today than three years ago and over half are concerned about their readiness to respond to a crisis," said PwC Melanie Butler, UK partner and global crisis centre leader.

Read more: Why M&A activity leaves companies vulnerable to cyber criminals

"Uncertainty and risk are very real threats, and in this fast-moving social media world we have moved into, there is less and less time for organisations to respond to crises.

"So there is a real recognition of the need to have robust plans in place as the effect of a crisis on a business can be long-lasting, and to tackle and overcome crisis, you need expertise at every step."

Big business bosses have had no shortage of nightmare fuel recently. The recent Panama Papers scandal, for example, has done no favours for law firm Mossack Fonseca, while Talk Talk's unfortunate brush with a cybersecurity breach last year has left many clutching their data close.

Meanwhile, a study published by Experian and PKF Littlejohn last month found that fraud is now costing the UK economy the equivalent of £6,000 per second, with private sector firms being the first port of call for would-be fraudsters, and a recent report by Marsh and TheCityUK explained why the financial services sector was the perfect target for a cybercriminal.

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