Risk-taking is inherent to a company in its pursuit of value creation. However, due to the radical transformation of some “traditional” business models, increased digitalization of the economy, development of new technologies, multiplication of regulations, geopolitical uncertainties, changes in society, or the challenges of climate change, corporate risks are changing rapidly. Thus, it appears essential to improve the guidelines for risk-taking. The organization must be able to understand risks related to opportunities to create value (financial or not).

AMRAE particularly thanks Françoise Bergé (PwC France and Maghreb), the members of the ERM 360° Commission of AMRAE (Stéphanie Canino, Winifrey Caudron, Sylvie Mallet, Philippe Noirot), as well as Laurent Magne for the preparation and drafting of this document, without forgetting Gérard Payen and Anne Piot d’Abzac for their proofreading, and Hélène Dubillot for the coordination of the publication.