RISK MITIGATOR^© Measure, Map, Mitigate

The easiest and fastest way towards improved credibility, enhanced transparency, amplified governance, and untainted reputation. Enterprise Risk Management Solution – affordable and within everybody’s reach.

Every entity, whether for-profit or not, exists to deliver value to its stakeholders. Value is created, preserved, or eroded by management decisions in all activities, from setting strategy to operating the enterprise’s day-to-day businesses. Enterprise Risk Management supports value creation by enabling management to:

• Deal effectively with potential future events that create uncertainty.
• Respond in a manner that reduces the likelihood of downside outcomes and increases the potential for upside results.
• Comply with new rules and regulations such as SAS 112,*
  * “Communicating Internal Control Related Matters Identified in an Audit”.

SAS 112 purpose:

In essence, SAS 112 incorporates the PCAOB ‘s definitions of significant deficiency and material weakness, thereby aligning the definitions used for audits of nonpublic entities consistent with those employed for public companies.

SAS 112 implications:

• An increase in the number of control deficiencies that is highly likely to be considered significant and/or material.
• Broader communication of those deficiencies to the stakeholders.
• Having less discretion: auditors will require further evidence and documentation from management to support their conclusions about the effectiveness of internal controls.
  

Enterprise Risk Management requires an entity to take a portfolio view of risk. The COSO ERM framework defines essential components, suggests a common language, and provides clear direction and guidance for the conduct of Enterprise Risk Management.

COSO is a voluntary private sector organization dedicated to improving the quality of financial reporting through business ethics, effective business controls, and corporate governance. *
* COSO — The Committee of Sponsoring Organizations of the Treadway Conunission

Incorporating the COSO framework, RISK MITIGATOR^© Measure, Map, Mitigate is an indispensable tool for small to mid-size companies wishing to upgrade their risk management to higher levels, thereby satisfying all stakeholders. Moreover, it is the most effective and reliable means for gaining and preserving public trust. Last but not least, it is cost efficient, user-friendly, and specifically tailored to the company’s unique needs.

RISK MITIGATOR^© Measure, Map, Mitigate provides you with the ability to:

• Automate all aspects of your risk approach within one dynamic tool.
• Share a central repository that can be accessed by management, the board and other stakeholders.
• Consolidate and analyze risk data across your organization or within individual departments.
• Identify and monitor risks over time against loss events information.
• Generate standard and custom-made reports quickly, efficiently and consistently across your organization.