Risk and Internal Audit Advisory Services
Managing risk is critical to the survival of any institution. Risk is a fact of life. The truth is, you cannot always avoid risk altogether; but you can keep it under control. In the business and political landscape in Kenya today, risks are proliferating. We are seeing the agendas of the Boards of Directors in government, the wider public sector as well as the private sector changing. Board members, members of Different County Assemblies, County Governors, regulators as well as other stakeholders are becoming more risk-savvy and demanding improved risk intelligence and reporting. In addition, recent trends indicate that our new government intends to hold Board Members as well as management in all government institutions more accountable.
Our specific service offerings Include:
- Enterprise Risk Management (“ERM”)
- ERM for government
- ERM for Insurance
- Development of ERM frameworks
- Gap analysis of ERM practices
- Organisational risk assessments
- Project risk assessments
- Implementation of ERM frameworks
- Business Controls Advisory
- Development of internal control frameworks
- Facilitation of Control Self Assessments (“CSAs”)
- Process controls reviews
- Fraud and Corruption Risk Management
Internal Audit Services
Executives of companies are today under relentless pressure to identify and manage risks facing them proactively. These are drilled down in their key performance indicators (“KPI”). Internal audit function is increasingly been seen as an importance function in every organisation. Organisations therefore require an internal audit function to:
Maintain appropriate vigilance over financial processes and controls.
- Broaden risk coverage (i.e., strategic, operational, compliance, regulatory) to align the internal audit mission with the county’s strategic priorities.
- Identify new, emerging risks that threaten the reputation of the institution, including risks associated with lack of accountability.
- Contribute to cost management efforts by identifying process improvement, cost recovery and efficiency opportunities.
- Coordinate with other risk management functions to avoid duplication of effort and gaps.
At Ashford, we work with you as strategic partners who will help you manage the risks that are known to you and anticipate the risks that
are unknown, thereby putting you in a position to act and give yourself a competitive advantage.