GRC and the Adversity of Not Meeting Its Requirements

When it comes to risk management compliance, every business entity is concerned about meeting all the requirements because governance, risk, and compliance have a great impact on the small workflow offer business entity. This is why it has always been important to hire consultants to supervise these important domains. But on one hand where most of the firms are looking for the best suitable candidate for the organisational structure, there are certain business entities who are still not taking GRC seriously enough. In a recently published article in 2017 it was estimated that almost 57% of senior level executives believed that risk management and compliance are two of the most crucial categories have that are prone to risks. According to them, they are least prepared for any mishappening in these two domains. The severity of the situation can be gauged we take a look at a research report published in 2019 dad mentioned that only 36% of organisations have a formal enterprise risk management programme installed within their structure. What do these statistics say about the service seeking firms? When we understand that the global market is full of business entities who are not being able to come up with compliance strategies, we figure out that a consultant is facing some difficulty in reaching out to those companies and making them aware about the severity of the situation. But it is not entirely the fault of the consultancy organisations that certain companies are not facing success in terms of GRC. The companies themselves are equally responsible for this adverse scenario because, at the end of the day, it is these organisations and their expertise when it comes to hiring GRC consultants for their firm. For example, we at Assured GRC, are focused on mitigating any issue that might come up in the global market; but, if the companies are not opened to hiring consultants, there is nothing much we can do after that. In other words, business entities around the world should understand that GRC is important for their existence and hiring consultants is the most effective way of meeting all the requirements in that respect. It is now or never Let us take risk management for example and understand why it is high time for every business entity to focus on hiring a risk management consultant. As we earlier discussed in this article, according to certain sources, only 36% of organisations have installed a formal enterprise risk management programme within their structure. Apart from that, 62% of the companies have had an experience of witnessing a dreadful risk event in the past three years. Now, this is an excerpt from an article published by the same source. In a nutshell, we can agree to the fact that when it comes to statistics about these topics, every source in the past have few years has garnered enough material to unleash the fact that every firm is at default and the situation is worsening with each passing year. One of the main reasons why Assured GRC is focused towards maintaining the supremacy of consultancy services is the cause the list of prospective clients is set to grow at an exponential rate. as a consultancy firm, we understand that we are required to study all these statistics so that we can understand the cruciality of our role. And this is why, we believe in continuously improving our consultancy services so that the consultancy service seeking organisations who hired us are not at all disappointed by the expertise that we offer to them. If yours is an organisation that is looking for expert consultants to meet all the requirements of governance risk and compliance, you can hire Assured GRC and reap the benefits of the expertise that we hold. As far as consultancy services are concerned, you should always look for the best candidate out there and assured GRC is always out there to fulfil your need for the same. Our services like gap analysis and continuous audit helps us in preparing your photo for all the threat or risk that you might get exposed to. Call us today at +44 (0)203 4759 932 and give us the opportunity to serve you the best consultancy services that you can ever get.

Consultants’ Perspective towards Risk Management

One of the major issues when we talk about the importance of crisis management as a service in an organisation, is the fact that most of the companies out there can’t understand the approach of a risk management consultant. Therefore, it is important to understand the questions that a company might asked by the candidate that they would be hiring. But before a company gets acquainted with the approach of a risk management plan, it would be easy to understand that risk management itself is a major part of an overall crisis management plan. Understanding these questions will help every business entity in the corporate sector, in gauging the importance of coming up with a resilient risk management plan that can act as a reliable source whenever a company is under any kind of internal or external crisis. THE QUESTIONS ABOUT RISK MANAGEMENT • What schedule does the company follows for assessing its top risks? One of the major aspects that would get into the focus of the consultants, would be the risk assessment schedule for the top risks of a company. The risk assessment process whenever covers the entire structure open organisation, it becomes responsive to change in the business environment. That said, a question about this very aspect, is the most prevalent, as far as an ideal risk management consultant is concerned. • What is the firm’s efficacy in managing their top risks? When the process of assessing the risks, and mitigating them in the nick of time, is effective in its execution, it becomes more and more successful for the company to start analysing the unforeseen risks that they can get exposed to. • Are there organisational blind spots that might need the firm’s attention? This is such a question that showcases the relationship between the risk management and the business continuity management of the firm. Issues like conflict of interests, and lack of transparency can ruin the overall efficacy of the business continuity plan because everybody would agree to the fact that business continuity is an important subset of risk management. Therefore, if the bigger picture is not clear, how can we be sure about the contributing aspects. • Is the firm aware of its risk appetite? Understanding the risk appetite goes a long way for all the companies, as it helps a company to come up with more resilient risk management services. These questions are only asked by a candidate that has enough experience about the consultancy services in this respect. The main reason is the fact that these questions help an ideal candidate in coming up with detailed services. Once you have gotten hold of the best Suitable candidate for your company, you will find out that these questions are nothing but a basis of the comprehensiveness that they will provide in your organisation. If you want to take a look at the real time efficiency of these services, you can check out the business continuity consultants in the UK. Therefore, it is important to look for a candidate that ask certain questions like the above pointers. this way you will have access to the best consultancy firm for your GRC audit as well. THE END OF YOUR HUNT FOR ONE SUCH CANDIDATE One of the best aspects that has made it easy for all the candidates to choose from the best, is the fact that there are companies like ours, that provide the best consulting services in the risk management sphere including multiple other sections. In a nutshell, if you are looking for such a candidate that can provide you with the best consulting services and help you in coming up with a stable and resilient risk management plan that is suitable for your organisation, you can take a look at our services. Therefore, it is not only about the approachability that we have garnered as a consultancy service, but also the steps we take, and the services that we provide to all the organisation. These services are specific to all the companies on an individual level. Reach out to us and give us the opportunity to serve you the best consulting services to suffice all your consultancy needs. Call us at +44 (0)203 4759 932 and connect today.