Risk Bases Assessments

With the increasing FSA emphasis for regulated firms on “risk based monitoring” and the FSA's rules on senior management arrangements, systems and controls introducing personal culpability for management failings, this service is proving increasingly popular with all types of regulated firms. As Howard Davies, Chairman of the FSA said in 2001 "When things go wrong, we shall look directly to senior management, whom we shall hold accountable."

In recognition of the additional risk and liability that these rules bring to directors, partners and individuals responsible for senior management decisions, an increasing number of businesses are using risk assessment reports as an integral part of their business strategy as it is important within all organisations to have clear up-to-date information about the principal risk elements of the business.

Resources Compliance can assist by making an objective on-site appraisal of the risk environment, suggesting improvements and assisting with redesigns. We can structure and document risk based internal audit programmes and carry out the work utilising your own staff.

Where required we can undertake a risk assessment, inclusive of site visit, on all or any aspect of your business and will always provide you with a report and action plan.

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