How can global companies create a common risk management culture at all levels of management? What are the competencies of an expert in risk management? How are the costs of risk management assessed? Can the benefits of risk management be assessed in monetary terms? How should the main Board of Directors define the objectives of the risk management policy, approve a budget and ensure that the objectives and budget are compatible? What is the possibility that an existing risk management system of committees and reporting structures becomes 'stale'? How would you prevent such a situation developing