Risks are threats that may adversely affect the achievement of a company’s objectives or hinder the achievement of the objectives. To cope with risks, a company must have a risk management procedure in place. Risk management means establishing efficient controls in all key business processes. In terms of financial losses, both the buying and selling process are always at high risk. Risk management is often achieved only after significant economic losses have occurred to the company. We will help you implement an efficient risk management framework in your company, along with implementation, monitoring and constant improvement.
We will also conduct third-party audits to monitor the company’s processes and supply chain, to find evidence of the specific requirements you have introduced. As the business environment is constantly changing in time, we will check whether the specific requirements established in the company are up-to-date and essentially useful for the company. For example, it has been prescribed at a company that three competing quotes must be obtained. An audit may reveal, however, that the fourth and fifth quote would have been better, but they were not obtained. Third-party audits help eliminate the widespread procedure of “building another world within a world” in corporate context.