European companies face a perfect storm as risks from cybersecurity to a volatile economy hit home, according to a new report.

The Chartered Institute of Internal Auditors has released its annual Risk in Focus Report based on a survey of 700 chief internal auditors across Europe. Auditors reported a host of connected risks they expected to face over the next year, including economic uncertainty, high inflation, staff shortages, and extreme weather exacerbated by global warming.

• “With the economy still in a fragile state, Boards will be focused on …