Risk | Deloitte Romania and Moldova | Enterprise Risk has been added to your bookmarks.
Deloitte’s Enterprise Risk Advisory practice is a global leader in helping clients to manage risk, whether existing or potential, from the boardroom to the network. We provide a broad array of services that allow clients to better measure, manage and control risk, to enhance the reliability of systems and processes throughout the enterprise.
Technological innovation, globalization, complex regulation and increased accountability at the senior management and board levels, have all combined to significantly change the landscape of risk management today. Managing risk has become increasingly complex due to the Network Economy and the emerging risks of e-business from online security to customer privacy, the increasing need for knowledge of local legislation and customs, the evolution of trading markets, the nature of pervasive information technologies, higher accountability standards for boards of directors and senior executives, the unprecedented complexity of the regulatory environment, pressing needs for better risk reporting and more integrated and comprehensive risk management and a shortage of skilled personnel.
In response to these changing conditions and to continue to help our clients succeed, we have made major investments in people, tools, technology and methodologies to support our practices around the world. As a result, we can provide solutions from our full range of consulting and assurance services, from assessment to transformation, involving process redesign and technology implementation.
The Enterprise Risk practice offers a comprehensive range of services designed to help clients understand business risks, determine acceptable levels of exposure, implement controls and provide ongoing measurement, monitoring of the risk environment and compliance.
Enterprise Risk Management
We help companies define and implement an integrated approach which involves management, business units and functional areas. It provides the following benefits: process and data integrity, process flow effectiveness, improved process capacity, detection of fraud, project management, improved supply chain management, improved management of distribution channels, corporate governance and control accountability.
The aim of our risk management services is to review your current processes and identify areas where the management of risk can be enhanced, based on the application of these elements to the specific needs of your business.
Revenue Assurance: Increasing Profits
We define revenue assurance as an activity an organization does to ensure that processes, practices and procedures maximize revenues. The primary objective of Revenue Assurance is to ensure that all products or services are accurately billed, within an appropriate timescale and that all billed revenue is collected, again within an appropriate timescale. We help you develop an ongoing framework for revenue management that ensures you realize maximum value from your revenue chain by minimizing the risks of revenue leakages. Our services include: assessment of existing revenue assurance process, designing revenue assurance framework, implementation of revenue assurance in an organization and operating revenue assurance function of an organization.
Internal controls implementation and assistance
With the introduction of the Sarbanes-Oxley Act in 2002, management became more oriented towards asserting the design and operating effectiveness of their control environment over the financial reporting process. As control experts, we provide internal controls assessment services to our audit clients as part of the financial audit process and design, implementation and readiness services to our non-audit clients.
Agreed upon procedures
Based on our clients’ requirements we perform special projects in accordance with the International Standard on Related Services - ISRS 4400. Such projects include: cost reviews, financial diagnosis, P&L testing, Due Diligence etc.
Third Party Compliance / Contract Risk & Compliance
Third Party Compliance audits assess whether key risks associated with the contracts concluded with third parties are identified and efficiently addressed by the internal control infrastructure within the clients extended enterprise. Specifically, we can assess sufficiency of our clients design of controls and those of their business partners to mitigate key risks and support compliance with their contractual obligations.
Attestation and certification of IT systems
Considering the requirements of the international standards and/or the legal regulations, specific IT systems must comply with defined hardware and software restrictions and embedded controls. Our experienced IT team comprised of specialists can assist you in obtaining the desired certification by providing competent assessment and recommendations that can support compliance with your regulators’ requirements. We have extensive expertise with respect to Internet Banking systems, Electronic Invoicing & Archiving solutions, Electronic Payment Systems or particular IT solutions developed to support your business needs.
General Computer Controls Assessment
GCCs are those control activities that are performed as part of the day-to-day operations of the IT function.
They encompass the control activities employed by management to ensure the application systems process information consistently and in a controlled manner. We provide control evaluation services as part of the financial audit process; and design, implementation and readiness services to our non-audit clients.
Security & Privacy Services
We have answers to your queries on each of the areas mentioned bellow:
- Application Integrity (including Segregation of Duties Reviews) - We can help you protect the software applications that support your initiatives based on computer generated information. With stronger application integrity, you can reduce or eliminate operational disruptions and their associated costs, enabling you to make accurate data available to your business partners and customers, helping you to be competitive.
- Data Quality and Integrity - Often, data analysis affords the opportunity to test vast segments of a given population, analyzing 100% of the total transaction set as opposed to traditional sampling techniques.
- Business Continuity Management - Our BCM framework involves the development of a long-range capability. We guide your organization toward “enterprise resiliency,” a predictive model that can help your company to preemptively recognize and respond to a threat before it becomes a crisis.
- Infrastructure, Operations & Physical Security - Our experience with a variety of IT infrastructures demonstrates how they often evolve in an unstructured way and can be inconsistently configured, difficult to manage and ineffectively controlled and monitored. We help improve these infrastructures by leveraging our experience of major security change programs, bringing together a deep technical understanding and knowledge of how technology needs to fit with the business and risk management drivers.
- Security, Privacy & Data Protection - Our team can help you understand the key factors for reducing exposure to critical risks and potential damage to your brand, including help in the following areas: privacy and data protection strategy, building an organization-wide inventory and classification map of personal data, policies and procedures, training and awareness, cross-border data transfers, data retention, compliance with law enforcement requests, building privacy controls into IT projects, audit and monitoring programs for ongoing data protection compliance.