Internal Audit & Risk Management

Regardless of the size or industry of your organisation, effective Risk Management is the key to success, enabling you to achieve your strategic and operational goals.

Risks are inherent to entrepreneurship. Therefore, the goal is not to eliminate them but rather to recognise them and find appropriate methods to manage them. Risk Management involves continuous improvement and the right combination of technology, process and competence. It seeks to identify, evaluate and prioritise all risks related to your business, regardless of the nature or origin. This allows methodical handling, which reduces and controls the probability of undesirable events as well as their possible impact.

The added value of Risk Management lies in the integration of corporate risk awareness in the decision-making processes, both at operational and financial levels, as well as in strategic challenges related to new technologies, market volatility and globalisation.

Corporate risk awareness should be integrated in the company culture so that it can be shared by each person within your organisation.

Our Approach to Internal Audit Services and Risk Management Services

RSM’s Risk Management consultants provide Internal Audit services to help you assess and improve the quality of your policy. This is in accordance with the decisions from your governance bodies, as well as legal and regulatory obligations.

We guarantee a fresh, neutral and constructive approach. Thanks to our multidisciplinary organisation, we offer you a team of specialists in each area of expertise.

You have the option to outsource the analysis of your Risk Management policy to our team, or we can help to build, develop and professionalise your internal control department (co-sourcing / partnering). We can also provide you with more specific Risk Management services (by project, for example).

These three models are totally flexible: they can be extended, combined or just limited to the Internal Audit of your current control department - the objective being that your internal control systems work effectively in practice.

Our methodology is based on the standards developed by the Institute of Internal Auditors (IIA) and ISACA (Information Systems Audit and Control Association), which both refer to the well-known “COSO” model.

RSM provide specialist Internal Audit and Risk Management services which include:

Getting a deep understanding of your organisation’s environment;
Preparing an overview of the current internal control system, as well as the existing Risk Management system (interview, understanding of the procedures in place, etc.);
Developing a risk analysis framework which will enable you to concretely integrate Risk Management into your organisation through the provision of support tools and recommendations for policies and procedures;
Identifying and assessing risks. Those risks are ranked and prioritised based on the extent of their potential impact on your organisation and the probability of their occurrence;
Reviewing and supporting you to build the risk register as well as the control actions to be implemented in order to reduce them;
Ensuring the communication of your Risk Management in your internal environment as well as the training of your teams;
Organising the monitoring of the various measures implemented and of the control actions set up in order to support you in your continuous improvement.

Schematically, our intervention can be organised as follows:

RSM offers you the highest quality services thanks to the skills of our partners and staff members who are certified in internal control (CICS) and in data analysis (ISACA). This allows your organisation to benefit from a professional and independent analysis of the quality and effectiveness of your control environment.