PepsiCo. Corporate Governance and Risk Management Risks can come from any direction, and suddenly pose existential danger to any firm. Consider the 2014 hacking of such firms as SONY, or the 2015-16 collapse of the world oil market. Boards are paying more attention to risk management, seeking assurance that senior management is protecting the interests of stockholders from all sorts of dangers: fraud, natural disasters, terrorism, political turbulence, cyber threats and more. One thing is sure: The threats of yesterday will tell you little or nothing about the threats of tomorrow. Identify the five biggest risks your firm faces. Explain what those five risks are, and how you determined them to be the most important. Then explain how the company is protecting itself from them. Document your decision process with evidence. SEC reports like 10-K and 14-DEF will give you a start.