All actions or activities within every entity will fall under a 'governance framework' which essentially defines the rules or norms that guide the relevant activity. At RSM, we work with you to ensure that you have a governance framework that works for you.
The common traps that organisations face:
- governance overload – spending all your time managing your governance frameworks, instead of focusing on your core operations
- reacting to external factors and implementing governance frameworks to comply, rather than being proactive and implementing governance frameworks to drive the organisation
- set and forget – are your governance frameworks still relevant to your organisation?
Risk and controls
Risk management practices have evolved significantly following the release of the risk management standard in 2009. The strong relationship between identified risks and mitigating controls is widely accepted and understood.
A strong control environment is a very important tool for mitigating your risk exposure. Implementing a simple, but well-designed control can be very effective in reducing the likelihood or consequences of a risk eventuating.
At RSM we assist our clients in ensuring that their control environment is: