Companies do not have just one predominant risk today – rather, they face a range of risks. The most significant risks are:
- Customer satisfaction
- IT security
- Competition
- Technology Obsolescence
- Fraud Risk and risk of failure of Key internal controls
- Current regulatory environment
For all types of organisations, there is a need to understand the risks being taken when seeking to achieve objectives and attain the desired level of assurance. Organisations need to understand the level of inherent risk encapsulated within their processes and activities. It is important for organisations to recognise and prioritise significant risks and identify the weakest critical controls.
We adopt a detailed process methodology in building an ERM Solution.