Grant Thornton Australia | Audit, Tax and Advisory
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Grant Thornton Consulting
Business risk

Business risk

Grant Thornton Consulting
Business risk
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As your business grows, so do your responsibilities to manage risk.

Exposure to business risk will vary based on your size, location, industry, scale of operation and ownership structure.

But regardless of whether driven by internal or external factors, risks to your business have the ability to compromise your growth and ability to meet strategic objectives.

Our team of business risk professionals has extensive experience in working with clients across a variety of industries to help spot, evaluate and improve areas of exposure or weakness. This includes a depth of experience working with clients from the Public Sector (at Local, State and Federal Government levels), Financial Services industry, Not-For-Profit and Health and Aged Care.

How we can help you

Internal audit

Internal audit provides independent oversight and review of your organisation's control environments to manage key risks, inform good decision-making and improve performance. It evaluates and improves your organisation’s risk-management controls, governance processes and procedures and assesses key functions and support services to ensure goals and objectives are supported effectively and regulatory responsibilities are met.

Fully compliant with the International Standards for the Professional Practice of Internal Auditing (Standards) our offering includes:

Setting up an Internal Audit function for the first time
Delivering fully outsourced and co-sourced internal audit solutions
Supplementing your existing team with qualified and experienced resources and subject matter experts as and when you need them
Conducting peer reviews of Internal Audit functions.

Control effectiveness

Control effectiveness helps organisations identify and understand the risks inherent to key processes and assess the effectiveness of existing controls. Our process reviews consider regulatory requirements, however they also focus on the efficiency and effectiveness of processes, providing tailored fit-for-purpose recommendations taking into consideration, industry, size and complexity of your business.

Risk management

An effective risk management framework provides organisations with the confidence to act on future business decisions. A rigorous and disciplined approach to risk management helps safeguard business assets and achieve growth objectives.

We assist organisations through all the key stages of risk management, including:

The development of Risk Policy, frameworks and Risk Appetite Statements
The facilitation of discussions and workshops for identification, assessment, treatment, monitoring and reporting of risks and risk management.

Compliance

Mid-sized businesses are increasingly affected by legislative and regulatory changes. Our team provides comfort to C-Suite executives and Board members on compliance with key legislative and regulatory requirements, including legislation such as the Corporations Act, the Privacy Act and the WHS Act, and regulatory requirements set by industry bodies such as ASIC and APRA (APRA’s Prudential Standards).

Whilst the team works with clients across a variety of industries, it has a particularly deep expertise and experience in advising and supporting clients in the Financial Services industry in the following areas: