Enterprise Risk Management is defined as the process of planning, organizing, leading, and controlling the activities of an organization in order to minimize the effects of risk on an organization’s capital and earnings.
At Clark Schaefer Consulting, our Enterprise Risk Management engagements include:
- Helping an organization determine their overall risk appetite.
- Developing tools such as control self-assessments (CSAs) and internal audit programs designed to help an organization lower the residual risk for key risk areas.
- Evaluating the Annual Internal Audit Plan to confirm that the testing scheduled is consistent with the risks identified.
- Evaluating the existing Enterprise Risk Management Framework to determine consistency with the COSO Risk Framework.
- Quality Assurance Review of the prior year Enterprise Risk Assessment.