We recognise that risk is a driver of organisational activity. As such corporate governance is the organisation’s strategic response to risk.
Success in understanding/managing in a risk environment requires elements such as:
A thorough understanding of the business process
A framework and language for discussing risk among managers/auditors;
A process to anticipate significant risk potential
A structure to enable the board of directors/members to effectively manage risks facing the organisation
Effective reporting on the internal control system (financial management) by the board of directors/members. This covers risks such as fraud, dishonesty and adherence to sytems/procedures
Identifying of principle risks and uncertainties facing a 'going concern'
Establishing an independant audit committee as an essential safeguard
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Professional risk management services for your business. Be smart in making your financial decisions before the penny drops.