Risk Assessment

Scope of Work

A Group of companies engaged MBG to conduct risk assessment in order to identify critical processes/functions/activities within the company to ensure that audit efforts are focused on areas of critical risk and importance to the business.

Outcome

• Process narratives (describing the activities per step of the process and associated key control) Gaps or deficiencies were potentially identified and recommendations and action plans were made to overcome the said gaps.
• Process mapping was performed identifying bottlenecks, repetition and delays.
• List of identified deficiencies i.e., controls deemed not satisfactory from a design and implementation perspective were highlighted and their associated action plan for remediation was provided.

Value added

• Provided the Organization with a great level of comfort regarding effectiveness of operations through out the Company
• Identification of gaps and deficiencies in multiple processes and recommendation of practical solutions that have lead to better business performance of the company by highlighting key risks.
• Enhancing the Corporate Governance practices thereby increasing the accuracy of management reports and better decision making.
• Recommended various practical solutions to help the client to have a better control over all the business processes.
• Reliability of financial & management reporting, compliance with the policies and procedures & conducted governance review to ensure they could focus on driving the business forward