Risk management simply means integrating the culture, systems and processes of a business to identify and manage risk. It can help make decisions, support business objectives and prevent loss, damage or harm to the business.
BDO’s risk management framework design and advisory service can help you meet your risk management obligations and accountabilities. We can give you confidence that you are managing risks effectively and efficiently, and help you to:
- Develop and implement formal risk management strategies, frameworks, policies and processes (including Risk Appetite Statements)
- Identify key enterprise-wide and operational risks
- Evaluate existing risk control strategies and develop agreed high level action plans for residual risk mitigation
- Develop management tools to document, register, monitor and report risks identified in risk management frameworks and processes
- Board and Risk Committee oversight, assurance and advice