Understanding corporate risk is a dynamic process and should consider not only the current risk issues but operate 'horizon scanning' to identify emerging threats.
An assurance framework should then be established that relates these risks to objectives, considers existing controls and assurances and defines gaps where further work is required.
Once identified and assessed all significant risks should be recorded on the corporate risk register and actions monitored. These should then assist Directors in identifying priority investment areas.
We can work with your Directors, Managers and Staff to establish a comprehensive risk management system