Risk Advisory

Risk Advisory sustained strong growth in FY24 despite economic uncertainties. Demand for risk services remained high, especially demand for resilience and business continuity services.

The regulatory market has continued to develop, with a focus on compliance and reporting. The regulatory tsunami, which will bring a lot of EU regulations into effect in the current and forthcoming years, has increased the demand for our services. We have been assisting our clients with transformation and assurance initiatives as large companies operating in the EU were required to start collecting data as of January 2024, in preparation for their CSRD obligations in 2025. We also saw a surge in demand for cybersecurity services that enhance business resilience.

Helping society use AI responsibly

Signals show that the AI market growth, consisting of several technologies that can disrupt how society interacts and conducts business, is turbocharging. GenAI is a technology that has shown great potential. In early 2024, Deloitte introduced its own GenAI tool, PairD, globally. In Risk Advisory we are focusing specifically on a trustworthy AI methodology, adhering to regulations and taking into account risks and ethical considerations when utilising AI. Through our services we also give clients the confidence that their AI is safe, secure, ethical, compliant and responsible.

Collaborating for stronger risk-management services

As a firm, we are dedicated to offering our clients the best solutions, integrating our services and restructuring our operations to provide a more comprehensive perspective and deliver broader insights, increasing the value we provide to our clients. We tightened the collaboration in the Nordic countries and continued utilising our risk-delivery centres, with a particular focus on integrating the resources into our local teams to bring them closer to the local business. Moreover, during FY24, we hired a new partner to lead our financial crime advisory services.

The market for risk management and reporting technology, such as GRC and ESG software, has matured, resulting in a surge in demand for technology implementation services. Additionally, the significance of reliable data has increased. The importance of risk and ESG data has been a leading theme for a long time, but now robust data management and data protection are even more crucial in order to ensure that data can be effectively and safely utilised.