The business world has never been more dynamic. Digitisation and disruption are not only increasing the competitive pressures on companies, they are shrinking the reaction times. The rise of nimble, innovative attackers in virtually all industries has made an organisation's agility and ability to respond critical to its survival.

What constitutes sound risk management, and how should it be implemented at board level, has changed. "There are some of the same risks that companies have always had to contend with, but which are coming at a much faster pace, but there are also things that probably weren't thought of before as prominent risks, that now have to be thought about," says David Shortland, of Shortland Consulting, who specialises in helping executives and directors address risk and governance issues.