Risk Assurance
Risk assurance involves tiers of internal processes which includes management and internal controls, financial control, security, inspection, compliance and internal audit to minimize or eliminate company’s internal and external risks. Risk Assurance is the internal process or methodology we employ to create the ‘checks and balances’ within our governance and risk frameworks by identifying a “gap” between the ideal risk state and the risk in real terms. Sumeru Global team provides the best support solutions to minimize the risk factor of your business
Risk assurance is generally associated with the accounting practices. It is similar to the assurance practices. The assurance department in a company is broader and based on accounting, while the risk assurance department is a subset and also much smaller. Auditors working in the risk assurance department have their focus set up on auditing, information technology and general controls. Risk Assurance services have become a part of the auditor’s work.
Hence it can be said that risk assurance is the process that includes assessment, identification, management, and control of potential events or situations to achieve the goals of an organization in a systematic way
