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RISK ASSESSMENT

While no two businesses are identical, every business shares one unimpeachable characteristic: susceptibility to risk. At MB Group, we offer a comprehensive risk assessment service to help your business effectively identify risks and create a plan to deal with these uncertainties. 

 

Because risk can vary by service, industry, area of practice, and business, our risk assessment can serve as the foundation to making informed business decisions across all areas. Continue reading to learn more about our risk assessment services and how they can help you chart the best path forward. 

Risk Assessment Accounting Services

 

At MB Group, we use a systematic risk assessment process to effectively identify risk and potential audit areas based on specific factors related to your internal controls and operations. The risk assessment involves the thorough examination of processes, so we spend significant time addressing things like segregation of duties/internal controls, compliance risk, etc. We’ll carefully review the holistic and detailed picture of your business to ensure risk tolerance is within management’s expectations. 

 

Risk AssessmentThe risk assessment will help you understand what is happening in your organization. Most importantly, you’ll walk away with a clear picture of why it is happening. Armed with this critical information, the team at MB Group will help you create a much more robust and mature control environment in line with your risk appetite and profile.

Create a Competitive Advantage Through

Risk Assessment Services

 

A risk assessment can help you mitigate potential losses caused by an endless range of factors, such as inefficiency, fraud error, noncompliance with regulations, etc. Creating a strategic competitive advantage, a risk assessment can help you confidently answer a range of questions, such as:

 

  • How can we identify and plan for potential risks? 
  • Has the down-side risk to our business objectives? 
  • What could potentially go wrong?
  • What’s the probability that something will go wrong?
  • If something does go wrong, what will be the impact? 
  • How often could this happen? 
  • How can the business create a plan to mitigate the risk?

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ADDITIONAL RESOURCES

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Tax Audit

Achieving Operational Excellence with Risk Assessment

 

By tailoring the risk assessment to your industry and business, we can even drill down to provide valuable insight into specific problems that may be plaguing your business, such as: 

  • Are all sales tax filings being properly done? 
  • Are W-9s being collected throughout the year from vendors 
  • Are 1099’s getting processed in a timely manner?  
  • Does the client have an Employee Handbook for employees?  
  • Are there job descriptions that translate into properly employee classification?  (and correct overtime pay)?

assessing risk in businessChart the Best Path Forward with Risk Advisory Services

 

The risk landscape for your business is forever changing. To stay ahead of threats, it’s critical you evaluate your risk against the casualty of risk. At MB Group, our risk assessment services will help you confidently do just that! 

 

Once we conduct a risk assessment, you’ll have a clear portrait of your risk posture, which means you can understand possible gaps and threats to your objectives. A current and accurate understanding of your risk profile delivers a competitive advantage and is critical to the establishment of an optimal risk management approach.

 

Contact MB Group today to learn more about the benefits of risk assessment services.

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