Quantitative and qualitative assessment of risks affecting your organization including feedback for refining your objectives.
A periodic Risk Assessment is a crucial component of understanding your business activities and how they, and their associated risks, may have changed over time. Additionally, it provides critical information to those conducting your Audits and Examinations who must consider it when developing their opinion of your financial statements and internal controls. In particular, Risk Assessments can identify areas where special consideration is necessary such as related-party transactions, complex or unusual transactions, or in some cases the true business purpose of a unique transaction. As necessary, the procedures we apply to develop the Risk Assessment would include Analytical procedures, Observation, Inspection, and also discussion with Business Operations Management and staff, and those charged with Governance, all duly documented.