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
- Financial Risks
- Credit Risk
- Liquidity Risk
- Currency Risk
- Financial Records and Reporting Risk
- Technological Risks
- Fraud Risk
- Trading Risk
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;
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.