Enterprise Risk Management

Risk is the fundamental element of any business enterprise. Understanding and managing risk throughout the enterprise drives performance and profitability and leads to increased shareholder value. Wissen help management in identifying key risks. Regulators have recently expressed great concern about the adequacy of the internal audits and internal controls against potential fraud. Management should assess risks inherent in the business and operating environment, determine that adequate risk management guidelines have been incorporated in the policies and procedures, ensure management information systems are adequate to monitor the changing nature of risk and establish a comprehensive risk management program.

Unfortunately, most companies do not have a formal risk management program or process. Decisions are made, strategies implemented, technology deployed and products developed without sufficient consideration of risk.

At Wissen, we have developed an enterprise-wide approach to managing risk that provides management and directors a common, comprehensive risk management definition and framework. Our solution addresses regulatory requirements for risk management – to identify, measure, monitor and control risk. We advise our clients to adopt a formal and systematic risk management program that provide guidance to strategic planning.