Risk assessment is a process of identifying potential risks and analyzing what could happen if it occurs. It is the process that helps organisations understand the range of risks they face, the level of ability to control those risks, their likelihood of occurrence and their potential impacts. Risk assessment entails identification, evaluation, and estimation of the levels of risks involved in a situation, their comparison against benchmarks or standards, and determination of an acceptable level of risk.
For some risks particular control measures are required. These control measures do not have to be assessed separately but can be considered as part of, or an extension of, the overall risk assessment.
A risk assessment is not about creating huge amounts of paperwork, but rather about identifying sensible measures to control the risks in organization by making well-informed decisions.
The services that we provide are:
- Risk assessment of the company
- Discovery of important risks and offer of deterrent mechanisms
- Internal control evaluation of the company
- Evaluation of the inner audit procedures and functions, its effectiveness rate, presentation of observations and recommendations
- Internal audit services
- Evaluation of internal control system according to COSO standards
- IT security standards and international conformity assessment and consulting