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Use Cases: Risk Management

Risk Assessments

Through comprehensive risk assessments, Verracy can help an organization identify, evaluate, and prioritize risks so they can be properly managed and mitigated. Verracy uses systematic and proven frameworks to evaluate potential risks in an organization. Risk Assessments can be enterprise-wide, across various business units, or limited to specific areas, such as:

  • Compliance and regulatory
  • Bribery and corruption
  • Internal and external fraud
  • Enterprise Risk Management (ERM)
  • Trade, export, and import compliance
  • Information technology environment

We help organizations protect themselves from potential reputational, financial, operational, or regulatory and compliance risks that could potentially impact image, brand, reputation, or financial success.

Fraud Risk Assessments

Assessing, improving, and monitoring anti-fraud programs are key elements of an effective internal control structure.

Do you have appropriate fraud governance activities and fraud risk identification processes? Does your organization know the most common types of fraud in your industry? Do you have fraud-specific internal controls to mitigate your key fraud risks?

No two organizations are the same and specific fraud risks and exposures are unique to each organization. To know which fraud risks your organization may be susceptible to, a fraud risk assessment must be conducted. Understanding how to properly identify and assess potential fraud risks will help an organization develop and implement an effective fraud program that reduces the potential financial, reputational, and organizational risks that can be associated with fraud. Our experienced Certified Fraud Examiners and seasoned fraud professionals can facilitate and manage successful fraud risk assessments for your organization. 

We can help you create or revisit your Fraud Risk Assessment to identify your most significant risk areas so that they can be better managed and mitigated.

Third-Party Risk

What risks do your third-party business relationships present to your organization?   And how have those risks changed as a result of the pandemic?

Extensive reliance on vendors, suppliers, and other third parties can expose organizations to an array of risk-management challenges. As third-party relationships grow more common, organizations are exposed to new types of financial, compliance, and operational risks. Identifying these risks, assessing their potential impact, and determining how to manage them requires experience.

Verracy can help you to identify, quantify, and mitigate third-party risk. We offer a suite of services that includes third-party risk assessments, supplier evaluations, and vendor-screening capabilities.

Explore our Areas of Expertise

Ready to discuss your challenges with the experts?

Reach out to us today and let’s discuss how Verracy can help you successfully navigate complex issues in your organization.

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