Bookmark and Share  Print

Enterprise Risk Management

Today, companies need to be constantly analyzing their place in the market. Can your business afford to have any surprises? Taking a wait and see approach can leave your business vulnerable to unforeseen issues. PKF Texas' Internal Audit Services Group works to help you use the Enterprise Risk Management (ERM) process to more effectively identify and manage your company's risks. 

Enterprise Risk Management (ERM) is defined by the Institute of Internal Auditors as the process of "A structured, consistent and continuous process across the whole organization for identifying, assessing, deciding on responses to and reporting on opportunities and threats that affect the achievement of its objectives."

The six major categories of the ERM process are:

  1. Define risk and select the appropriate framework for your organization
  2. Identify the risks to your organization
  3. Assess the risk
  4. Evaluate the risk
  5. Address the risk
  6. Monitor on a continuous basis


Once the first five steps above are initially completed the entire ERM process should be incorporated into your normal business processes.

PKF Texas ERM Capabilities:

  • Implement ERM process in an organization
  • Consult with management on process
  • Review current ERM process for improvement
  • Engagement to update ERM program including risks and mitigation

 

Related Content

Technology Technology

Not many industries move at the speed of technology. That's why technology companies depend on PKF Texas to provide cutting-edge solutions for their toughest business challenges.

Publications Publications

Access our US, Worldwide and Executive Tax Planning Guides, The Edge digital magazine, and Route to Profits® newsletter. For individual articles and alerts, see our Resource Hub.

Transportation

The transportation industry is an unpredictable environment in which to do business. As advisors to the transportation industry, we know the best way to handle this challenge is to plan for it.

Powered by Astoundz

 
Request Personal Contact

We will never disclose your information to a third party.

*Required


     CAPTCHA Generator
Or Call Us Now (713) 860-1400