While no two businesses are identical, every business shares one unimpeachable characteristic: susceptibility to risk. At MB Group, we offer a comprehensive risk assessment service to help your business effectively identify risks and create a plan to deal with these uncertainties.
Because risk can vary by service, industry, area of practice, and business, our risk assessment can serve as the foundation to making informed business decisions across all areas. At MB Group, we use a systematic risk assessment process to effectively identify risk and potential audit areas based on specific factors related to your internal controls and operations. The risk assessment involves the thorough examination of processes, so we spend significant time addressing things like segregation of duties/internal controls, compliance risk, etc. We’ll carefully review the holistic and detailed picture of your business to ensure risk tolerance is within management’s expectations.
The risk assessment will help you understand what is happening in your organization. Most importantly, you’ll walk away with a clear picture of why it is happening. Armed with this critical information, the team at MB Group will help you create a much more robust and mature control environment in line with your risk appetite and profile.
A risk assessment can help you mitigate potential losses caused by an endless range of factors, such as inefficiency, fraud error, noncompliance with regulations, etc. Creating a strategic competitive advantage, a risk assessment can help you confidently answer a range of questions, such as:
By tailoring the risk assessment to your industry and business, we can even drill down to provide valuable insight into specific problems that may be plaguing your business, such as:
The risk landscape for your business is forever changing. To stay ahead of threats, it’s critical you evaluate your risk against the casualty of risk. At MB Group, our risk assessment services will help you confidently do just that!
Once we conduct a risk assessment, you’ll have a clear portrait of your risk posture, which means you can understand possible gaps and threats to your objectives. A current and accurate understanding of your risk profile delivers a competitive advantage and is critical to the establishment of an optimal risk management approach.