B. Governance, compliance and risk assessment

the need

Governance is about how an organization controls its actions.It includes the processes, systems and controls (e.g., internal controls) by which organizations are directed and controlled to assure accountability and transparency.

Compliance is usually the term used for the adherence to government regulations and laws.

Understanding and managing risk is an inherent part of the business process. Taking planned risks will be rewarded with profit and growth. Effective controls will help offset the danger that risks pose.

Below we provide you with information and links to get more details about the various services and tools we offer that help your bottom line.

Click on any of the hyperlinks and get more information:

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  • A governance, compliance and risk assessment (you are here – scroll down to read more)
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Risk assessment is essential to corporate governance. By confronting the risks that await your company before they become a threat, you gain the clarity to formulate effective controls that will offset the danger that they pose. With compliance initiatives such as the Sarbanes-Oxley Act (SOX), BASEL II, and ISO, it has become imperative that a company models its controls to ensure a transparent audit trail.

The above hyperlinks offer you the opportunity the read more about our tools including but not limited to checklists for improving governance, risk management and compliance in your enterprise.

EXAMPLE

When considering risks, often we forget to do a post mortem analysis. Even from failures one can learn the ropes to skip and improve procedures and controls to minimize the risk for a similar failure in the future.

When Estonia was attacked by computer hooligans during April and May 2007, banks, gas stations and consumers suffered by being unable to have electronic payments processed. And while much went wrong, even more went right and the lessons learned will help in the future to better protect the countries communication networks against such types of attacks.

7 lessons learnt from the Estonian attacks

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