Commission on the role of the local authority finance director entitled Worth More than Money.
The report identifies risk management as one of the strategic issues
which finance directors are keen to address. A third of finance
risk management issues, but 85% give it less than 5% of their time.
David Forster, of Zurich Municipal, said:
'We have always said that risk management is a vital corporate issue to be addressed by the finance directors and chief executive. The Year 2000 IT bug presents probably the greatest risk local government has ever faced. This along with the range of other risks which councils must assess and manage reinforces the importance of this area.'