Business Risk and Control Reviews

“As business grows or diversifies and the business environment keeps on changing, the nature, prioritisation and impact of business risks also keep on “shifting”. It is therefore important and worthwhile for the management to continuously review their business risks and controls.”

“Business risks can be broadly grouped under two categories, namely, “organisation level” risks and “process level” risks. The management needs to constantly assess and monitor whether appropriate control initiatives are in place to prevent, detect and manage these risks. Business risks include not only the obvious but also, among others, risks from disaster, competition, legal and regulatory compliance, industry, customer needs, operational efficiency, credit and liquidity and information processing/information technology.”

Our experienced team takes time to understand the client’s industry, business, reporting and control systems. This enables us to identify the key operational and risk areas to which a business is exposed. We are then in a position to develop a structured approach to risk identification and control which fits within the owner’s and management's overall objectives and general infrastructure, thereby providing a cost effective solution.