Enterprise Risk Management (ERM) provides a framework or risk based approach for risk management in an organisation. ERM is the process of planning, organizing, leading, and controlling the activities of an organization in a way that minimizes the effects of risk on an organization’s capital and earnings.
Enterprise risk management expands the internal control system which tends to serve the internal needs of an organisation to include the needs of various stakeholders.
There are a number of stakeholders outside an organisation who are interested in understanding the broad spectrum of risks the organisation is facing. ERM therefore includes financial, strategic, operational and other risks.
Through ERM an organisation is able to identify and proactively address risks and opportunities which results in the protection and enhancement of the value of an organisation for the benefit of shareholders and other stakeholders.
Our team of experts in ERM is readily available to help you in the implementation of an ERM framework.