Risk management in today’s tough and ever changing environment is not simply a matter of identification and mitigation of risks. Every organization should see any risk as an opportunity to strengthen its underlying processes.
As a probability function, risk is the chance of the occurrence of adverse outcome. In the business environment an organization faces risk in the forms of demographic or economic pressures, innovation in or mere reliance on processes and technology and changing legislation and compliance requirements enforced by regulatory authorities. This framework provides the foundation upon which our risk management solutions are built
BDO Pakistan’s Risk Advisory Services Practice works with clients proactively to manage risk through the creation and maintenance of sound internal controls. We have a wealth of professionals at all levels who are passionate about internal controls, and we have the necessary flexibility to assist any organization from a blue-chip listed company to a small sole proprietorship. Our team is highly experienced in the assessment of business risks and control and uses a rigorous approach to assess business processes. We can help you to identify and understand the inherent risks within key processes, and whether your existing controls are adequate and efficient in mitigating those risks.
Risk Advisory Services include development of policies & procedures manuals and conduct of training programs, reinforce the corporate view of “the way things should be done”, improve communication and awareness of the control environment, and highlight nonstandard practices, ensuring a sharper focus on an organization’s mission.
Our clients benefit from our deep interaction and involvement at Director and Partner level, and our global expertise, no matter what their size. We also help clients design and implement global compliance programs and drive results through internal audit. Our practice ensures that we are delivering solutions to our clients in a swift, timely and proactive manner. Major areas covered under this function are:
- Process Assessment – helping clients assess the efficiency and effectiveness of their business processes.
- Value Management – improving the performance of your business by helping to stop revenue leakage, verify costs and highlighting value adding activities.
- Financial Services Risk Management – management advice to financial services companies on financial regulation
- Technology and Information Services – core areas of our IT services include Advisory Services and Automation of processes.
- Internal Audit – provision of internal audit services.
- Governance Advisory – encompassing a wide range of services from HR management to systems integration planning.
- Standard Operating Procedures – developing detailed manuals for various operations of the client.