Eight in 10 chief audit executives report that Russia’s war on Ukraine has adversely impacted macroeconomic and geopolitical risk, making it the number one risk exacerbated by the conflict. Prior to the war in Ukraine, these issues ranked outside the top five risks for businesses.

The steep ascent of macroeconomic and geopolitical uncertainty up the list of risks to business has been found by a poll of over 800 chief audit executives commissioned to monitor which risks have been most impacted by the war in Ukraine.