Risk managers around the world appear to be closely aligned when it comes to top concerns for their organization, according to findings of two studies.

One was preliminary results of a study, Global Risk Management Research, which is due in September by Accenture. Executives from 446 organizations across eight industries were asked what they see as the biggest risks over the next two years. Out of a list of 10 “external pressures,” legal risks topped the chart at 62%. Second on the list were business risks at 52%, and third were regulatory requirements at 49%.

There was a tie at 46% between the fifth, sixth and seventh concerns, which were credit risks, operational risks and strategic risks.

Interestingly, the 2013 Global Risk Management Survey by Aon Risk Solutions found that of 1,415 respondents from 70 countries and a broad range of industry sectors, the top concern was economic slowdown/slow recovery. Second was regulatory/legislative changes and third was increasing competition.

Last on the Accenture study’s list was reputational risk at 38%. I find this surprising, given the financial crisis and ongoing examples of tarnished reputations over the past few years for a variety of reasons. The Aon study, however, listed damage to reputation as the fourth concern.

In a slowly recovering economic environment, with more and more organizations merging and acquiring other companies, and expanding across the globe, the top concerns of both of these studies make sense. In fact, other surveys and experts I’ve talked to indicate that M&As more often than not result in legal actions and trigger other business risks and regulatory requirements.

Illustration courtesy of Accenture