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.
Risk is a fact of life for every business, no matter their size.
Risk assessment is more than just advising clients on the hazards their businesses face. It’s about finding approaches to problems, and using our expertise to help our clients bridge the gap between success and failure. That’s why we believe our clients value our service and why we’re internationally respected for our professionalism, ability and quality of work.
The relationships we have with our clients and the trust they place in us are why we’re able to provide our people with perfect opportunities to build their skills, gain new experiences and advance their careers.
It’s a matter of perspective. While many companies consider the process of risk management unpleasant and cumbersome, others perceive taking some amount of calculated risk as an opportunity to gain a competitive advantage. But in a time when the velocity of change is increasing your risks, those capable of turning risk into opportunity are far more likely to servive and thrive.
The business environment is life with risk, from disruptive events and technological advancements to regulation and financial concerns such as fraud and waste. The challenge lies in staying ahead of those risks and preparing accordingly. With the proper procedures and systems in place, you can identify threats, avoid surprises and manage risk effectively-to not only survive in discruption but thrive.
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