Risk Assurance

Risk Assurance

Risk Assurance

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.

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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

Risk Assurance

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.


Embrace technology

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.

RSM offers Workplace assurance advice

Case study: WDEA Works

1 September 2022
Working with RSM’s specialist Health Services team, WDEA Works has since gained valuable oversight of their operations while making practical improvements that ultimately help them deliver better services to the community.  

Risk Insider Newsletter - Edition #13

1 September 2022
It is now more critical than ever that businesses take responsibility for, and shape the impact they have on the environment, their community, and stakeholders. Putting sustainable and responsible practices at the heart of the business is fast becoming a pivotal requirement for regulators, investors, and other stakeholders.

NSW Records Management Assessment Tool (RMAT)

7 June 2022
Effective April 2022, the RMAT will become part of a new Regulatory Framework for the State Records Act 1998 (the Act).  In accordance with this, all public offices will be required to submit their RMAT results as part of an updated compliance regime conducted by The State Archives and Records Authority (SARA). 

Shining a light on your workplace culture

27 May 2022
Culture trumps strategy, every time. Countless studies have proven the benefits that great workplace culture can have on staff retention, productivity, and even revenue.

Protect the future of your business with security certification

2 December 2021
Cybersecurity is a real risk and one that needs to be considered and managed effectively in order to protect the future of your business. 

Tips for managing risk through and after COVID-19

2 November 2021
Many organisations are engaged in discussions about COVID-19 and its implications from a risk management perspective.

Hospitals facing greater uncertainty over the next 12 months

30 September 2021
Forced onto the frontline in the midst of a global health pandemic, the doctors and nurses who work within Australia’s public and private hospitals have certainly been under enormous strain these past 18 months.

Risk Management in Local Government

6 May 2021
Why local governments in WA must act to mitigate risk and implement effective risk management Following the appointment of the Auditor General as their official auditor several years ago, local governments in Western Australia have faced greater scrutiny surrounding financial management.

Strategic risk: are they threats or opportunities?

26 October 2020
It is a regular activity for an organisation to undertake a risk assessment of its operating environment to consider, review, and document the many threats that organisations face.