Risk Management

Do you have the necessary systems in place to identify and manage threats to your business and maximise opportunities as they arise? Whether you are putting a risk management framework in place for regulatory reasons or to comply with best practice, the benefits of drawing upon our experience are manifold.

Risk Management Services

Beyond having sufficient insurance against fire, theft or flooding, the senior management of an organisation face challenges in integrating risk management effectively into the business. Significant challenges are also faced in demonstrating to key stakeholders how management monitor the myriad risks to the organisation and the effectiveness of controls designed to mitigate them.

An enterprise risk management (ERM) framework may be needed to ensure the achievement of these objectives. The Committee of Sponsoring Organisations (COSO) defines an ERM framework as:

“… a process, effected by the entity’s board of directors, management, and other personnel, applied in strategy-setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risk to be within the risk appetite, to provide reasonable assurance regarding the achievement of objectives."

The benefits

Embedding a suitable and proportionate ERM framework has the following advantages:

  • Provides an early warning system for threats to the achievement of strategic and operational objectives, enabling a proactive rather than reactive approach to risk management.
  • Facilitates a more risk-focussed organisational culture.
  • Encourages greater risk awareness and communication throughout an organisation.
  • Creates links between different areas of risk to facilitate robust monitoring thereof.
  • Produces valuable management information to be used for decision-making purposes.
  • Establishes a standardised methodology for monitoring and reporting on identified risks.
  • Can create synergies and other organisational efficiencies, thus adding real tangible value.
  • Demonstrates sound risk-related governance to shareholders and other stakeholders alike.
  • Compliance with laws and regulations.

Whether your risk management function is in-house or outsourced, and whether you are UK-based or operating internationally, Mazars’ expertise and pragmatic approach can add real value by helping you to optimise your management of risk.

Get in Touch

Please submit the form if you require any further information on the risk management services we provide.

Your personal data is collected by Mazars in the United Kingdom, the data controller, in accordance with applicable laws and regulations. Fields marked with an asterisk are required. If any required field is left blank, it will not be possible to process your request. Your personal data is collected for the purpose of processing your request.

You have a right to access, correct and erase your data, and a right to object to or limit the processing of your data. You also have a right to data portability and the right to provide guidance on what happens to your data after your death. Finally, you have the right to lodge a complaint with a supervisory authority and a right not to be the subject of a decision based exclusively on automated processing, including profiling, that produces legal effects concerning you or significantly affects you in a similar way.

Want to know more?

Lock electronic protection data header.jpg

Protecting Employees - Payroll

Robust continuity strategies are critical. In addition to business operations and sales, your business continuity plans should focus on protecting your employees.

Corona roads lights motion header.jpg

Collecting Cash & Managing Cashflow

Cash and overheads will quickly become critical if operations and output are impacted, while staff and outgoings remain fixed.