As organisations start to manage risk at all levels throughout their operations the IT-processes put in place to help manage them can often be inadequate, In turn this can, make updating and monitoring the risks an onerous task.
To help overcome this challenge, RSM Tenon has developed a software solution, 4risk ©, to help private and public sector organisations manage their risks more effectively. The package will enable you:
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Record risks in a risk register
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Evaluate risks
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Record the existing control framework
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Record residual risks
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Identify improvement actions
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Identify and record independent assurance received on current key controls
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Map out an assurance framework
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Undertake control risk self assessment
As a web-based solution, an unlimited number of users can access the software simultaneously. You can give responsibility for updating the status of individual risks to the risk owner, thus avoiding the need for centralised data input and maintenance. 4risk also comes with a comprehensive reporting suite, enabling you to monitor and analyse all risks that challenge your organisation.
Why would you need it?
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You want to strengthen your organisation’s risk management methodology and approach
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You want to provide an assurance framework
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You want to help embed risk management throughout the organisation by devolving responsibility to risk owners
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You want to manage risks through software that has a comprehensive reporting facility
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You wish to improve the reporting of risk to the Audit Committees and Boards