What is Risk?
The risk is a situation involving exposure to danger or A probability or threat of damage, injury, liability, loss, or any other negative occurrence that is caused by external or internal vulnerabilities, and that may be avoided through pre-emptive action. (as defined in a business dictionary) Every challenge and every opportunity an organization faces today demands change. And with change comes risk. Some risks you can see, some you can predict, some you can plan for, and some you can't.
What is risk management?
Risk management is the process of identifying, assessing and controlling threats to an organization's capital and earnings. These threats, or risks, could stem from a wide variety of sources, including financial uncertainty, legal liabilities, strategic management errors, accidents, and natural disasters. (Whatls.com)
The Main Types of Business Risk
- Strategic Risk
- Compliance Risk
- Operational Risk
- Reputational Risk
- Financial Risk
- Liquidity Risk
- Credit Risk
- Enterprise Risk
What is our process to advice on risk management?
We ask better questions based on our experience in different industries. Typically we adhere to the following process:
- Step-1: Identify the risk
- Step-2: Analyse the risk
- Step-3: Evaluate the risk
- Step-4: Treat the risk
- Step-5: Monitor and review the risk
Our Risk management advisory service advises organizations on how to mitigate risk and make informed and intelligent risk-free decisions around business processes, technology, and operations. We take an integrated approach, combining our insight and innovation across multiple disciplines including analytics, controls, and resilience.
Our different business and industry knowledge and hands-on experience help you seize the opportunity to better manage your risks across a diverse range of topics, from Compliance to Process Transformation.
Together, we help organizations to take a well thought of approach to risk. What do we have to serve you better:-
There are different risks and challenges increasing due to in business expansion, regulatory compliances, use of the integrated system by management, and resource and talent constraints. To navigate these challenges and risks, we conduct internal and management audit and assurance.
Data audit and Insights
We provide cost-efficient, risk-effective solutions to help you leverage and unlock the value of your information system.
Continuous Control Monitoring
We help you to monitor controls continuously to mitigate future risks.
Business Process Analytics and re-engineering
Our team through advance tools reveals input, output, and workflow complexity, and spotlights these key sources of variation.
Together, we help you deliver better outcomes and long-lasting results, from strategy to execution.