Changes in both the UK regulatory landscape and the overall international environment require businesses to understand how their risk profile changes as a result. Suitably defined and applied approaches to risk management, governance and internal control are therefore required for the optimisation of sustainable business performance.
An effective system of internal control is central to how an organisation responds to the various classes of risk to which it is exposed. Organisations that fail to recognise the need to control risk, safeguard their assets or comply with regulation expose themselves to the following potential failures, each of which can have a significant impact on their ability to operate successfully:
- Failure to achieve business objectives
- Material error, loss and/or fraud
- Breach of relevant laws or regulations
- Consequential damage to reputation, shareholder value and/or investor confidence
Our 250-strong Governance, Risk & Internal Control (GRIC) team of specialist professionals address these risks for a wide range of entities, across all major sectors. We work closely with senior management to develop practical and pragmatic solutions to often complex issues through our provision of a full range of ‘joined-up’ assurance services, including:
- Internal audit
- IT audit
- Governance reviews (including reviews of board effectiveness and corporate culture)
- Risk management reviews
- Compliance reviews (re: regulatory and internal compliance)
- Review of outsource service providers (including SSAE 16 and ISAE 3402)
- Business performance improvement and other consulting services
Mazars provides a best-in-class technical service and valuable Partner contribution which is a key differentiator of our service to clients. Our objective of meeting the needs of clients’ stakeholders is achieved through tailoring our approach to an organisation’s size, complexity and culture. This bespoke approach enables us to forge strong, long-term relationships with our clients, many of whom consider us the go-to firm for the provision of comprehensive assurance services.