Business Risk Services

Areas of Focus
Ernst & Young's Business Risk Services offer strategic and operational services that help companies around the world evaluate and enhance their risk and control functions.
Ernst & Young can help you in these areas:
Enterprise Risk Assessment The key to effectively protecting and growing returns for an organization's shareholders is to identify and manage the risks that could prevent the organization from achieving its business objectives. When key risks are clearly identified, risk management efforts can focus on the risks that could have the most significant impact on the organization. Our Enterprise Risk Assessment is a highly effective and practical approach that provides insight on inherent risks and then links them to the organization's objectives, initiatives, and business processes to help that organization define, improve, and monitor opportunities.
For more information, download the Enterprise Risk Assessment brochure (pdf, 617kb), or contact Global Leader Mike Kaiser +1 312 879 5964
Risk and Control Framework AssessmentIn most organizations, risk management and internal control activities are numerous and fragmented. This lack of alignment and coordination can result in overlaps or gaps in risk coverage. Through our Risk and Control Framework Assessment, we help companies identify and understand the misalignments, challenges, and improvement opportunities in their risk and control frameworks. This assessment provides a clear definition of focus areas and efforts that can help management drive incremental improvements that will mitigate risk and enhance overall performance.
For more information, contact Global Leader Mike Kaiser +1 312 879 5964
Internal Audit Maintaining a strong internal control structure has never been more important to executives, audit committees, and board members. It is imperative that internal audit departments have access to the global resources, knowledge, and tools to address the highest priority risks faced by the organization. Our internal audit professionals have valuable experience gained from providing internal audit services to both public and private companies across all industries, locally and globally.
For more information, download the Internal Audit Functional Performance Assessment brochure (pdf, 498 kb), or contact Global Leader Bob Trombley +1 216 583 3990
Internal ControlsBoards, audit committees, and senior executives are being challenged to develop and maintain an internal control environment that meets the governance expectations of stakeholders and anticipates future regulatory requirements. At the same time, they also must demonstrate that the approach provides benefits to the business to justify the investment. Our deep internal controls experience helps you develop a tailored and tangible approach to internal controls that is focused on your business and its environment.
For more information, download the Internal Control Services brochure (pdf, 440kb), or contact Global Leader Inge Boets +32 03 270 1223
Risk RemediationOur risk remediation service is an approach focused on risk mitigation through improving the effectiveness and efficiency of the related processes and controls. Process and control reviews have tremendous potential to provide added business insight. By uncovering deficiencies, these reviews help identify performance and control improvement opportunities. More and more companies are taking the next step to start improvement efforts to remediate deficiencies.
For more information, download the Risk Remediation brochure (pdf, 1mb), or contact Global Leader John Stalla +1 216 583 4012>Program Advisory ServicesMounting regulatory requirements for disclosure and transparency, coupled with the complexity inherent to large programs, has placed sponsors and managers under increased pressure to demonstrate their programs and projects will deliver to expectations. Similarly, stakeholders are interested that their programs and projects will be successful, benefits will be realized, and changes to the organization will be sustainable.
For more information, download the Program Advisory Services brochure (pdf, 1.1mb) or contact Global Leader Teresa Pierce +1 216 583 896">Contract Risk ServicesWe assist clients with all aspects of the contract life cycle, including risk assessment, internal and external monitoring, process improvements, Sarbanes-Oxley Section 404 compliance, and internal audit support. Our extensive experience with contract life cycles, risks, and controls provide a foundation to assess a company's risk profile and potential exposure surrounding business partner contracts. We analyze compliance with stated contract terms, which can lead to revenue recovery, improved business partner relations, and compliance.
For more information, download the Contract Risk Services brochure (pdf, 647kb), or contact Global Leader Neil Aaron +1 212 773 8101
}
}

About Risk Advisory
Overview
Risk Issues
Library
}

Risk Advisory Services
Actuarial Services
Business Risk Services
Financial Services Risk Management
Fraud Investigation & Dispute Services
Technology and Security Risk Services
Contacts
Find your nearest Business Risk Services contact.
//-->



Ernst & Young refers to one or more of the member firms of Ernst & Young Global Limited (EYG), a UK private company limited by guarantee. EYG is the principal governance entity of the global Ernst & Young organization and does not provide any service to clients. Services are provided by EYG member firms. Each of EYG and its member firms is a separate legal entity and has no liability for another such entity's acts or omissions. Certain content on this site may have been prepared by one or more EYG member firms.


more

Risk Assessment (process of risk analysis and risk evaluation) canonly be completed after you choose the Risk Assessment Approach.
So the order would be
1) Choose Risk Assessment approach
2) Risk Analysis (identify sources of Risk and estimate the Risk)
3) Risk Evaluation (compare the estimated risk against given riskcriteria to determine the significance of the risk)
4) Risk Acceptance (for those which are Risk criteria or Managementdirective)
5) Risk treatment (for those that can be treated)
With regards
Madhukar