Companies are exposed to a variety of financial risks, including interest rate, inflation, currency, credit (counterparty), commodity and M&A-related risks. The last decade has brought about fundamental changes in how these risks are viewed, identified and managed by top corporations. However, modern risk management practices remain seldom discussed and little understood in the broader business community, especially in emerging markets. This presents a major competitive disadvantage in the post-crisis world, where companies with controlled exposures to volatile financial markets enjoy a more stable operating environment, lower earnings volatility, and a lower risk of financial distress