Corporate governance remains the top risk concern for Australian and NZ companies, according to a trans-Tasman survey of risk attitudes.

Companies are also more acutely aware of the risks associated with directors and officers, alongside system risks and human resources, most noticeably staff hiring and retention.

Aon’s annual Australasian risk management and total cost of insurable risk survey has confirmed corporate governance as the No 1 risk concern for the second consecutive year. New stock exchange guidelines, international financial reporting standards and other new regulatory and compliance obligations are prominent factors.

Other risks reported by respondents are lack of innovation, including a failure to change or adapt, and the market environment.

“The key risk concern this year – corporate governance – reflects the sizeable regulatory burden facing Australian and New Zealand organisations and the heightened focus on directors and executives,” Australian National Manager Client Research Ross Castle said.

The survey also found one-third of companies have employed a risk officer, and QBE is ranked “most respected insurer” by the business sector.