Nowadays, companies are active in a constantly evolving environment. Resultantly, managers are continuously faced with numerous obstacles.
These obstacles can compromise the realization of the business objectives. Still too often managers are "putting out fires" which possibly could have been avoided with the right control measures in place. Do you sometimes feel that you don’t have all business risks under control? Do you find it difficult to understand which risks deserve your focus? A solid risk assessment is the first step in the design and the implementation of adequate control measures.
Your company is facing many risks. Mapping them in a systematic way comes with a lot of challenges. You may encounter the following obstacles:
- You feel uncertain about carrying out a risk analysis in a structured way, thereby considering all possible risks.
- You don’t have internal resources with sufficient time or experience to conduct this analysis.
- You wish to avoid that the risk analysis remains just a matter of management, without involving the entire organisation. In that way, you don't forget to include "hidden” risks in your analysis.
- You want to avoid that only the financial risks are being mapped, while many other events can threaten the realization of business objectives.
- Risks are not clearly formulated, thereby complicating the implementation of effective control measures.
How we help
horsum knows that taking risks is inherent and even necessary when conducting business. We want to guide you in dealing thoughtfully with these risks. Based on our experience in risk management, we offer a structured approach to conduct a risk analysis successfully.
Specifically, horsum can guide your organization through the entire analysis:
- We offer a framework to enable a structured reflection, considering different perspectives (organisational, financial, political, ...).
- We stimulate ‘out-of-the-box’ thinking with various exercises. This helps in identifying less obvious risks.
- Starting from the objectives of your company, we draw up a list of events which can impair the realisation of your objectives.
- Together with your employees, we think about the causes of those events and the probability of occurrence.
- Based on the probability that a certain risk arises and its possible consequences, we prioritize risks. That’s how you know which risks deserve your focus.
Do you want assistance during your company's risk analysis? Please send an e-mail to firstname.lastname@example.org or call us at + 32 9 378 38 28 for more information. Not exactly what you are looking for? Discover our other internal audit services here.