Risk management
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Financial risks
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Operational risks
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Human resources risks
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IS and IT technology risks
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Reputational risks
Organizational risk assessment, prevention and creation of risk management models.
- the process implemented by the organization's management and other employees;
- the process used in defining strategy and
- a process that spans the entire organization;
- a process designed to:
- identify possible events that may affect the organization, and
- manage risks so that they correspond to the level of risk acceptable to the organization (risk appetite), and
- would provide some assurance that the organization's goals will be achieved.
Risk
the level/degree to which unknown future events may affect the organization's ability to achieve its objectives.
Auditor's role in risk management (according to the standard):
Assists the organization by identifying and assessing the most significant risk areas and contributes to the improvement of the management and control system;
Monitors and evaluates the effectiveness of the company’s risk management system;
Assesses risk in the company’s operations, corporate management and information systems in relation to:
- reliability and honesty of financial and economic activity information;
- purposefulness and efficiency of the operation;
- asset security;
- compliance with laws, regulations and contracts.
Benefits of risk management:
01
A sense of comfort for managers of organizations;
02
A clear picture of possible events and their impact on the organization, as well as areas where opportunities are not being used;
03
Better quality management information and information sharing within the organization;
04
Clearly defined business principles inside and outside the organization;
05
Understanding of the organization's employees about the principles of the organization's operation, the most important risks and their role in the risk management process;
06
The motivation of the organization's employees to focus on common goals.
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