In recent times, risk assurance has developed beyond the provision of retrospective comfort to stakeholders and is gaining recognition as a “business partner” and “change agent” to provide management and the board with advice and where necessary, insight.
To successfully focus on enhancing and protecting organisations, our risk assurance professionals first turn their attention towards the outcome and start engaging with your business in partnership to enhance, protect and create value.
This gives us the opportunity to explore innovative ways to provide comprehensive assurance, a need which has become of significant as resources become limited, and compliance requirements and expectations expand.
Communicate, communicate, communicate
Communication skills at all levels is critical to the success of our risk assurance service.
Starting with using the right language to express views and risks for different stakeholders (including regulators) on essentially the same message, we can assist in upskilling the board and influence different stakeholders at the right level and right time. Our risk professionals help align and bridge governance gaps.
Being able to communicate effectively with different stakeholders by sharing insightful perspectives with them also gives us a platform to market the value proposition of functions such as risk, internal audit, IT. This assists in becoming a trusted advisor and valued business partner to management.
Different times, different needs
Strong leadership and communication skills are essential for us to address and influence various stakeholders (board, management, and regulators) on common risks and governance goals.
Risk assurance provides prospective comfort, advice and insight, which requires broad and deep business knowledge and competency across different areas beyond financial and operational controls.
It is essential that we align our activities with your business strategies and objectives. Increasing regulatory requirements and cross border business operations, supported by extensive use of IT, have predicated the need for additional skill-sets which are provided by our core team along with a suite of inhouse subject matter experts.
The ability to quickly adapt and respond to your changing needs is emphasized in everything from our engagement methodology to final deliverables.
Just as technology advancements have allowed businesses to flourish, we have also take advantage of the new digital world.
Lower technology costs and more user-friendly features means RSM, and yourselves, benefit from our innovative approach, including continuous auditing rather than point-in-time audits, and use of data analytics for comprehensive versus sample testing.
This simultaneously enhances our collaboration with your operational units who can then assume ownership of the developed checks and controls, further improving on them. With the right approach and tools, we explore predictive auditing for more targeted and efficient engagements.
At RSM, we enhance and protect your organisational value by providing risk-based and objective assurance, advice and insight. An effective risk management and assurance service can make a positive contribution to the management of risk and the smooth operation of your business.
Our risk assurance professionals work with you to understand your business strategy and its associated business drivers, and how that strategy is delivered through an appropriate operational business plan and process framework. Your stakeholders will benefit from experienced independent professional evaluations and a review of the quality and effectiveness of the control environment within your organisation.
Where areas are identified for improvement, we work with you to help you identify solutions and achieve your objectives.