Increasingly, boards and executive management are focused on how to best assess all the risks of the enterprise. Risk is seldom eliminated. Some risks may be transferred to others, but event risk is generally beyond total control. Enterprise risk management enables an organization to determine what level of risk it can, or wants to accept.
This task becomes challenging, if not daunting for those companies with complex organizations operating in fast-paced environments. Through a systematic approach, an effective enterprise risk management system defines risk frequency and severity that may impact business initiatives as well as ongoing operations. Successful risk management enables businesses to achieve performance and profitability targets, prevent the loss of valuable resources and assure effective reporting and compliance. Most importantly, enterprise risk management is a dynamic, fluid process that wraps all business processes.
Our audit and risk management experience from both an operational and board perspective enables us to effectively help clients implement enterprise risk management solutions or to assess risks at the enterprise level for possible further action. Contact us for more information regarding:
Businesses must take measured and reasonably controllable risks if they are to provide shareholders with fair returns. We do not live or conduct business in a perfect world. People make mistakes. Markets change. Things happen. Effective enterprise risk management is the name of the game.