Services
Risk Advisory.
Why every business needs to manage risk.
Managing risk is one of the fundamentals for business success. Risk management will put in place a system to identify, assess, control and review the factors within a business that may jeopardise or expose them to unwanted situations. An efficient risk practitioner can instigate good risk assessment practices that empower the senior management team to proactively identify and deal with risks, and make informed decisions to help ensure the profitability of the business.
Risk management in action.
Risk management is an ongoing process for every business, large or small. The key issue for any business is to identify the risk – once that has happened, measures can be taken to accept it, mitigate it or, in some circumstances, to avoid it altogether. Handling risks professionally can in many cases result in progress and growth, and proactive risk management can also help to handle threats before they take hold. A business may choose to live with a risk, either because it is comfortable handling it, or simply because it is unavoidable.
An experienced and professional risk assessor can work with you to help you identify and manage risk. This will include:
- Taking the time to understand your business and undertaking an objective assessment of the risks you currently face;
- An explanation of the risks they have identified, and help with arranging the risks in order of priority so that the ones that may significantly affect your business are dealt with first;
- Helping you to put together a workable plan of risk mitigation which can contain new policies and procedures. A key question will be “what caused the risk, and what can we do to prevent it from recurring?”
- Assisting with a periodic review of risks, evaluating their potential influence on your business and creating a contingency plan that can be deployed if the risks occur.
Using a risk management specialist.
Think about the priorities and objectives you have for your business. What risks would you be willing (or unwilling) to take to achieve them? Bringing in a risk and assurance professional will help you to evaluate your risks and inform subsequent decision making so that the right balance of threats and opportunities can be achieved, and you can move closer to your goals.
A specialist risk assessor can also keep you informed about emerging risks such as cyber security or health and safety issues, and will understand the most up-to-date ways of mitigating those threats. They will also help you to see risk management in a wider strategic context and where it should be considered alongside other organisational policies.
By talking to a specialist risk and assurance specialist you can understand the financial implications of your risk management strategy for the business as a whole, and ensure that the board is properly informed, in a timely way, and in a format they understand.
Talk to an expert
Our internal audit specialists draw on a wealth of experience in both the public and private sectors. Want to make sure your organisation is operating most effectively?
Call us on 0330 058 6559
Email us at hello@scruttonbland.co.uk
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