Risk Management

All businesses are exposed to 7 types of risks; Economic risk, Compliance risk, Security & Fraud risk, Financial risk, Reputation risk, Operation risk, and Competition risk.

Risks could be an opportunity masqueraded, or an early alarm for an imminent threat, its an art and science to identify and effectively manage risks and scale up the growth of the organization. We help Clients with effective Risk Management framework that is in accordance with COSO standards while taking into consideration of the dynamicity of the industry, economy, regulations, and technology with our knowledge and expertise. We assess the risk appetite of the Clients for each exposures and help Clients with ways to mitigate, avoid, transfer, and accept the risks by recommending and implementing appropriate PDC controls (Preventive, Detective, Corrective).

Risk Register

A risk register is imperative in successful management of Risks. At Outright, we help the Clients with organization wide risk register that is drilled down function and activity wise. We analyze the risks of each department, and document it in the risk register where the process owners and management have clear visibility of the underlying risks and its magnitude.