This was first published by International Accounting Bulletin on 24 Jan 2018.
That was the topic running through many of yesterday’s Davos debates.
It was investors who most talked of the risks: The Carlyle Group identifying so-called ‘black swans’ or unanticipated risks such as a new global health pandemic; M&G Investments warned of the possibility of a devastating worldwide IT crash.
The Barclays CEO Jes Staley actually said that this year’s Forum “feels a little bit like 2006.”
But the banks lined up to say how they had now reformed themselves, and the debate was that this time the risks are extra-financial rather than financial.