Enterprise Risk Management
Are you up for the challenge?
The world, and the business world in particular, is facing change at an unprecedented rate. Gone are many of the old certainties, as the history of many corporations can testify. And change brings with it risk. Those of a certain age will remember GEC, ICI and Austin Morris as towering giants of an earlier corporate age. None of those giants, however, adapted to the challenge of the changes they needed to make to survive and all have gone the way of the dinosaurs.
Risks are flying at business in a bewildering range of different shapes and forms: technological, a less certain political landscape, economic, climate, the list goes on. Each of those risks requires a measured and calculated response, in an appropriate timescale.
Ratings agencies, listing exchanges and regulators around the world expect management to identify, assess and respond to risks in a prudent fashion. In addition, each of these constituents expects the board of directors to share in management’s responsibility for risk management and assessment.
As broader stakeholder expectations for risk management and risk assessment continue to increase, many board members and senior executives have come to appreciate the benefits of ERM. They expect their organisations to:
- Achieve clearly articulated, high-level goals and objectives
- Use capital and other resources effectively and efficiently
- Report transparent and reliable operational and financial data
- Maintain compliance with the most recent regulations and laws
Audit committee members and senior executives of listed companies and certain private businesses often need advice and assurance that they are providing effective risk management to the enterprises they serve. BDO helps organisations design and implement practical and cost-effective enterprise risk management (ERM) solutions.
BDO’s integrated team of business advisory and consulting professionals draws upon its experience with both public and private sectors. Our teams globally have helped numerous large and mid-market organizations create ERM programs and improve processes for managing strategic, operational, financial, regulatory, and compliance risks. Our clients depend on us for the skills, experience and knowledge we offer in supporting the missing critical operations of the business.
At BDO, we believe that understanding the nature and extent of likely risks, and how to deal with them can be complicated enough without wrapping the whole process in unnecessary jargon. We keep our messages clear and simple, so our clients can act on them rather than file them away because they have been over complicated. We are also happy to talk on a no obligation basis about how we see the risk landscape moving, so why not pick up the phone today?