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Improved
Risk Management
Control
Risk Self Assessment (CRSA)
is a audit and management tool
that encourages management and
staff to think in a disciplinary
way about:
| · |
Their
business objectives. |
| · |
The
business risks associated
with their area of responsibility. |
| · |
The
adequacy of controls implemented
to ensure that business
objectives |
| |
are
met. |
| · |
The
likelihood and possible
impact of risks materialising. |
Capabilities
We
provide state of the art tools
and staff capabilities in the
assessment of the risk environment
and control environment. Through
the use of these tools and capabilities,
we evaluate each element in
the control cycle:
| · |
Objective
setting. |
| · |
Risk assessment. |
| · |
Control evaluation. |
| · |
Control
testing through the audit
process. |
| · |
Control framework redesign. |
| · |
Monitoring. |
Benefits
| · |
Improved
risk management process. |
| · |
Increased
understanding of risk management
and controls throughout
the |
| |
organisation. |
| · |
More
effective and efficient
use of resources. |
| · |
Empowerment of employees. |
| · |
Strengthened control environment. |
| · |
King II compliance. |
| · |
Sox compliance. |
Performing a Risk Assessment
and maintaining a Risk Database
Solution:
A well-maintained risk database
for management to focus attention
on high-risk areas as well as
a process of assessing the quality
of controls and effectiveness
of procedures.
Risks will be identified by
us during detailed risk assessments,
CSA workshops and the audit
process. These will be made
available for updating of the
risk database.
We utilize state of the art (Option
Finder) technology in identifying
and assessing risks within the
organization. The Risk Database’s
results will be used as the foundation
for audit planning and focus in
future. Please refer to Annexure
B for examples.
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