As currency volatility has spiked in recent months, we've also seen a spike in the impact that currency swings are having on corporate earnings. In the “2016 Global Foreign Exchange Survey,” which Deloitte released in March, the firm predicts that levels of uncertainty in foreign exchange (FX) will remain high throughout this year.

The survey asked corporate treasurers and treasury professionals around the world, in organizations with US$1 billion or more in annual revenue, about how they're managing currency risk. It identified some critical areas for improvement in corporate FX risk management practices in preparation for the ongoing volatility.

Treasury & Risk sat down with Niklas Bergentoft, director of global treasury advisory services at Deloitte & Touche LLP, and Richard Brooks, specialist leader in the global treasury advisory services group, to discuss the survey results, as well as what companies should be doing to improve their treasury function's ability to manage currency risk more effectively.