Enterprises Risk Management
Risk management is an important business practice that helps businesses identify, evaluate, track, and mitigate the risks present in the business environment. It is practiced by the business of all sizes and in various industries.
Benefits of Enterprise Risk Management:
A pre-audit is the preliminary phase of an audit prior to the official examination of the accuracy of an organization’s financial statements predominantly used to establish the scope of the audit and the areas of concern;
Why undertake one
It provides a platform for:
– Gathering background information, documentations and records.
– Error rectification and prevention of ‘Audit-time surprises’.