In the previous article, we’ve considered key prerequisites for creating a risk management system. Let’s take a closer look at how you can establish such system in your company.   For the identification and management of risks, business owner and top managers can organize relevant business processes and departments in their companies. Though, recently, some…

We continue to look into general organizational issues related to ordering of auditing services. Previously, we considered the subject of the audit relevance for company’s owners both from the perspective of problems which can be identified by the auditor as well as from the point of view of development opportunities which will be accessible to…

Any business is a possibility to obtain profit which, otherwise, can be lost. In this article, we’ll consider the origin of risks and effective methods of addressing them.   There are different types of risks: reputational, financial, credit, compliance-related. The larger and more complicated a business becomes, the harder it’s to manage it and the…

Today, entrepreneurs and managers have a wide range of business management tools. As a rule, the market is dominated by those who can effectively combine these tools.   One of such instruments, which proved its efficiency both in developed and developing countries, is the audit. It’s not just a formal verification of companies’ financial reports,…