Leading risk management associations urged risk managers to raise the profile of their profession within their company's boardrooms.
Risk Insurance and Management Society president Lance Ewing said increasing the profile of risk management within the ranks of senior management and in the boardroom was crucial.
"This is the time for us to stand up and be counted," Ewing said. "We have become the garbage collectors of the company and who better to turn to."
Ferma vice-president Paul Taylor said that effective risk management was not just about ticking boxes, and was becoming an increasingly important area of the corporate world.
Taylor said the risk management standard was an effective and easy to understand tool for risk managers to use to raise the profile of their profession in the boardroom.
Airmic executive director David Gamble said that take-up of the standard had been "excellent".
But it would appear that risk managers are beginning to make some progress in this area.
A survey of 100 risk managers conducted during the conference revealed that boards are taking a greater interest in risk management, with 65% of respondents saying that their boards had increased their investment in risk management over the past year.