The Institute of Risk Management (IRM) returned to financial health in the year ending June 2002, members were told at the IRM AGM.
The risk management educational body said it had gone through a period of major restructuring and had received vital donations from several key sponsors.
IRM acting executive director Steve Fowler told members the past year had been a major watershed for the institute.
Surplus increased by 89% to £53,117, compared with £28,269 for the previous year. Members' funds also increased to £87,139 which resulted in a 2% rise in total income for the IRM. Costs were also reduced slightly.
In addition, Zurich Risk Services national risk manager Ian McNeil was elected IRM chairman for 2004. He will succeed Paul Howard.
The IRM also elected three new board members; Emma Cundiff, managing director of Cundiff & Mills Consulting, Cary Depel of MOS Risk Works, and Andrew Keeling, senior business risk manager for Vodaphone.
