Executive SummaryThe objective of this article is to simultaneously survey the practice of risk management of large United Kingdom, United States, and Asia Pacific multinational companies (MNCs). We investigate whether risk management practices vary internationally. From 179 (30%) usable responses we find a number of interregional differences in the organization of risk management; a greater emphasis on decentralized structures in the Asia Pacific and less formal board control over risk management in U.S. MNCs. In terms of the tools of risk management there were differences internationally in the concerns in choosing derivatives, driven to some extent by differences in the accounting treatment internationally. In general, the size, degree of internationalization and industry sector of the respondent MNCs could not explain these regional differences. However, there was little variation in the methods of forecasting exchange rates and the majority of MNCs in all regions use a centralized risk management system.