If an organisation wants to succeed, it must continually adapt and improve. This is the only way that businesses can maintain growth and profitability; the only way that not-for-profit organisations can make the most effective use of their resources. Competitive pressures leave no room for inefficiency or complacency. The quality of products and services and the customer care around them all need to be robust to maintain confidence and loyalty. Those responsible for governance must therefore ensure that their risk management, governance and internal control arrangements are up to scratch.
What do we offer?
Broadly, PKF Business Risk Services deliver four key benefits. We enable organisations to:
- demonstrate resilience and compliance with regulatory and other key requirements
- identify, assess and mitigate the risks that threaten their performance objectives
- strengthen governance
- improve efficiency and effectiveness and reduce cost
Our expert team provides internal audit and other specialist risk and governance services as follows:
|
| Customers are seeking assurance that your systems are well managed and controlled. | Independent certified assurance reports that you can give to your customers. These may be carried out under the UK standard AAF01/06, new US standard SSAE16 or the international standard ISAE3402. | Increased customer satisfaction and improved ability to win new customers.
Improved internal governance and opportunities to strengthen controls. |
| Assurance that your risk management processes are effective. | Assessment of risk management process design, operation or content. We work with businesses to help them identify and appraise their risks and confirm that the mitigations are designed appropriately and operating. | Improved risk management, helping you to make the right decisions and reducing the chances of your business being caught out. |
| Assurance that internal control arrangements are effective. | Internal control reviews, whether as an outsourced internal audit service, supplementary support to an in-house audit team, or as ad hoc reviews.
Benchmarking of your procedures against others in the industry.
Review of suppliers to ensure that they are meeting contractual requirements and providing sufficient internal control. | Robust assurance that the internal control framework that you rely upon is fit for purpose and operating effectively.
Offering practical advice as to how you can strengthen control. |
| Support in strengthening your governance arrangements. | Board assurance support including the Audit Committee Adviser role to support the Audit Committee on technical matters, risk management and assurance programmes.
Advice on governance arrangements and assurance that governance is working. | More focused governance activity releasing more director time for driving the business forward.
Confidence that the governance arrangements are sufficient to ensure that the business operates effectively. |
| Support in meeting Sarbanes Oxley or Jsox requirements. | Support in S404 preparations including determining risks, assessing and documenting key controls, testing and remediation. | Reduces the pressure on your in-house teams and helps avoid the need for declaring control weaknesses. |
| More effective use of resources and/or cost reductions. | Value for money reviews of functions, services and projects to assess scope for improving economy, efficiency or effectiveness. | Improved financial and operational performance. |
Why choose PKF?
When conducting a business risk assignment, we first get to know your organisation. We work towards understanding your goals, needs and regulatory requirements. Wherever in the UK you are based, we have experienced staff who can work with you to assess your needs and develop practical solutions. Our personal approach is designed to deliver lasting value for your business, backed up by the credibility and resources of a top 10 audit firm. PKF (UK) LLP is a member firm of the PKF International Ltd network of legally independent firms, meaning that we can support your business around the world by working with other member firms.
What our clients say
"PKF has demonstrated that they work well as a cohesive team, delivering quality work to agreed timescales and are always available for additional support and advice”
“Their work and approach has focused on gaining an understanding of our key business drivers and priorities through working alongside us in a constructive and thoughtful manner which has added real value to our business."
"PKF has provided an excellent internal audit service since their engagement”
Find out more
To find out more information on PKF's Business Risk Services please click here.
|