Risk Assessment Services

Organizations typically fail to meet goals, incur losses or make substantial misjudgments for three main reasons:

  • Unseen Risk – failure to foresee emerging risks; e.g. blindsided by the unanticipated;
  • Known Risk – not properly managing known risk; e.g. unintended consequences; or
  • Control Failure – reliance on inadequate controls which fail to mitigate the risk as expected.

 

A systematic risk assessment is a process used to identify risk and potential audit areas based on specific risk factors related to a client’s operations and internal controls in order to provide assurance that risk tolerance is within management’s expectations. The process involves the creation of a Risk Management Team (RMT) comprised of client and consultant staff. A risk assessment model is used to rank and prioritize potential audit areas through a series of surveys, questionnaires and strategic interviews, as well as the combined judgment and expertise of your risk management team. The result is an audit plan that provides a tool for assigning available audit personnel to the highest areas of risk, defining an audit population and prioritizing the audits conducted, as well as developing training programs to address the areas of risk and the process of control and mitigation.

We incorporates an interactive approach to documenting and assessing an organization’s exposure to health and safety incidents, fire hazards, waste and unauthorized activities. We utilize two different methodologies: Industry-Specific Risks and Enterprise-Wide Risks, which ensures that we will tailor our HIRA services to your organization’s needs.

We will help your organization to focus on the processes and methods of risk assessment and mapping in the prevention, preparedness and planning Stages, as well as providing instruments for disaster risk management program.

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