Business Risk Management

Business risk Management

While all organisations must incur an element of business risk, it is the management of these risks that sets the well run organisation apart from its competitors.

Managing a company’s risk exposure is designed to maximise returns, while eliminating unnecessary risks and managing those unavoidable business risks.

As such it is critical for management to devise ways of managing business risks and reducing their impact on the organisation should they occur.

Review of Internal Systems & Procedures

By carrying out an internal audit of your organisations Activities, Systems and Procedures, BMS Accountants can ascertain the element of Risk associated with your organisations activities and recommend appropriate controls to manage those risks that may impact on your company’s future profitability and development.

Business risks can be categorised in various ways;

  • General Business Risks
    • Economic Environment
    • Competitors
    • Financial Risks
    • Credit Risk
    • Liquidity Risk
    • Currency Risk
    • Financial Records and Reporting Risk
  • Technological Risks
  • Fraud Risk
  • Trading Risk

“I changed to BMS Accountants in 2012. I have found them to be an ideal fit for my business. No task is too much. Raymond and his staff are always eager to help and provide advice and guidance. I would highly recommend them.”

Mairead Gogan
Owner, Something Special Florist Trim

Our Approach; Managing Business Risk

By adopting a systematic approach to risk management, BMS will recommend a series of robust controls tailored to your organisation to minimise your company’s risk exposure.

Risks will be;

  • Identified
  • Assessed
  • Profiled
  • Quantified

Having carried out an extensive review of the risks facing the organisation, Controls and Procedures will be recommended to reduce the company’s exposure to those risks.

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