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In light of all that has gone before, the question being asked by many of our clients is ‘What Now?’ which equates to ‘how do we prosper and evolve and not just survive a relentless risk environment?’
Boards and Audit & Risk Committees are acutely focussed on ensuring their businesses both protect and realise value by identifying and leveraging opportunities whilst also actively managing current and emerging risks.
Our advice to our clients is to stay focussed on the fundamentals.
Manage your strategy by managing your risks, enable your business by focusing time and resources on the things that get you closer to your ‘end game’ not further away and most importantly make sure you have risk assessed your business strategy and determined whether it is fit for purpose and future proofed?
We always remind our clients that a challenging risk landscape can also present opportunities.
As it stands inflation, geopolitical, climate change, sustainability and energy risks will remain front and centre for all of our clients now and moving forward. The ‘crystal ball’ nature of such risks can feel overwhelming so it’s important to stay focussed more so on the impact on people, processes and technology as they remain at the core of our clients businesses as strategic enablers and directly influence its success.
Standing back and looking closely at how revenue streams, product development, performance management, supply and distribution channels and organisational structures could be re-imagined through an ‘opportunity and upside lens’ instead of a ‘risk and downside lens’ can also be the difference between survival and value generation.
As our clients look towards 2023 we believe it is more important than ever that their risk and internal audit plans deliver true business value, support the exploitation of risk assessed opportunities and ultimately contribute to organisational and strategic resilience.
Our experienced Business Risk Services team support Boards, Audit & Risk Committees and senior leadership teams across a range of private and public sectors with practical, personable and competitively priced risk advisory and internal audit solutions.