Integrated Risk Process
As the second line of defense, Risk Management has an important role in giving assurance to the company. However, the success of Risk Management is also determined on how the implementation and company awareness raising is done. Risk Management Software becomes the solution that can be optimized in preparing the frameworks and methodologies to the Risk Management in implementing risk identification, assessment, and mitigation processes that is simple and centralized.
The result of registering risk will then be obtainable in various practical reports that allows the Top Management to evaluate the company risks globally or disaggregated per business unit.
The significance of the risk management of special areas will increase through, amongst other things, the operating environment becoming more complex, globalization and the progress of digitalization. Risk is a persistent and pervasive aspect of business today, and to address it successfully you need a team that offers more than risk advisory expertise alone. At Insight Consulting, we commit to understanding your company, your culture, your processes and your priorities.
We help our clients in mapping out special risks and also in the planning and implementation of risk management frameworks and measures such COSO ERM, ISO 31000, Risk Management Maturity, Key Risk Indicator (KRI), and GRC Capability Model.
“ Two years ago we didn’t expect that in this pandemic phase, IDEA and Pentana Audit software utility could really help in a remoted audit process, in term of the desk audit process as well as the reporting activity process. With IDEA data analytic, the process of the desk audit can save the field work & visit time up to 70%, this could happen because IDEA can analyzed and do the data processing to identify risks and spesific scoop at the beginning of the desk audit process. ”
“ Our audit teams use a data extraction and analysis tool, IDEA. This allows teams to analyse large amounts of financial data. Using IDEA, we can access such data in seconds, saving time and money for our clients. ”
“ I absolutely recommend IDEA. It lets us quickly analze 100% of our data using repeatable procedures. It’s also advanced enough to provide what I call a ‘one-click’ solution where it creates a dashboard populated with charts and field statistics that make it easy to see the outliers. Generating a result with just a couple of clicks is awesome. ”
“ We use data analytics in all phases of the audit. During the planning stage, we use it for scoping and sizing. During fieldwork, we use IDEA because we can analyze the entire population, which would not be possible with manual analysis. IDEA makes it easy to create new tests and narrow the population so we can focus on anomalies and exceptions. ”
“ Pentana Audit helps us understand our risk better which helps us be prepared for any type of event by enabling a continuous risk-based audit execution process. With Pentana Audit we are now more adaptable for changes and that makes us better prepared for emerging risks. ”
“ It’s been an incredibly effective way for us to build the risk culture within the organization. All of our lines of business now know the name Pentana! ”
“ With Pentana Audit we are saving approximately 100 working hours per audit and with an average of 12 audits every year that is an astounding saving. ”