Managing business risk isn’t just about compliance. We would like to help you see business risk as an opportunity. We help improve your business processes while focusing on good governance and control.

Risk is inevitable but is manageable, and is not always about taking the most cautious route. It is about planning for potential opportunities as well as threats, allowing you to realize the goals of your organization.

Every business aims to achieve growth, profitability, and sustainability. But far too often they are confronted with strategic, financial, operational, and technological challenges. The real problem arises when you do not have the right control, governance, and business processes in place to mitigate risk.

We work with you to lay a clear path for improvement by helping you tackle any issues identified, and show you the opportunities they present.

Business risk services is a range of advisory services from Internal Audit and governance services through the business process management, forensic services, and data analytics.

Our service offering ranges from an objective, in depth examination and evaluation of your organization's ability to manage financial and operational risk, through the recommendation of corrective processes, procedures and controls. 

Internal Audit Services

We help you achieve the right balance between risk and reward by establishing a controlled environment to mitigate and respond effectively to the changing risks within and outside your business. It’s not just compliance. Internal audit is critical to good governance and business performance. It provides confidence to manage key risks, informs good decision making, and improves organisational performance. 

Co-sourced and Outsourced Internal Audit

We offer co-sourced or fully outsourced solutions in order to help our clients define their approach to auditing new areas such as transformation, major change programmes and culture, whilst providing best in class delivery assurance against the key risks impacting their business. We provide internal audit services as per the Institute of Internal Auditors Standards. We work within a collaborative partnership with you through our certified and experienced internal auditors who cover all aspects of an internal audit function to deliver co-sourced internal audit by supporting existing teams with the provision of subject matter experts as well as outsourced internal audit by providing a comprehensive and best in class internal audit function. 

Internal Controls Review

Internal Controls are an integral element in all business processes. It is becoming more important to build a strong, efficient and effective structure of controls to ensure that all functions and activities are achieving their strategic, financial and operational objectives. We support the review of organization-wide internal controls to identify gaps and recommend improvement opportunities. 

Risk Assessment and Management

We have seen an increasing focus on identifying and managing risks before they eventuate – defining risks, weighing their probability and impact, and developing your responses in the essence of good risk management. Our risk management offering helps clients develop and enhance their organization’s approach to risk management, to the point where it is successfully embedded. Our rigorous and disciplined approach to risk management helps safeguard our clients’ business assets and allow them to achieve growth objectives. 

Internal Audit Quality Review

Our internal audit effectiveness and improvement reviews help our clients assess and improve their internal audit function. We provide an external quality assurance review, as well as a validation of the internal self-assessment to enable the in-house internal audit function to meet standards set by the Institute of Internal Auditors. Our reviews deliver real value through benchmarking against current best practices, undertaking productivity and value-for-money assessments, providing pragmatic advice on improvements, and giving assurance to boards and audit committees that the internal audit function is focused, resourced and managed appropriately. 

Internal Audit Staff Secondment

Grant Thornton can provide qualified staff for many positions from low to high grades for the requested period. We have a support team for secondment positions with high qualification and we can support you in reducing your administrative costs in recruitment. 

Governance Services

Whether your company is a fully listed or private company looking to adopt best practice, we’ll work with you to develop solutions tailored to your needs. We’ll help strengthen your governance structures – structures that underpin optimum corporate performance – as well as ensure rigorous regulatory compliance. 

Corporate Governance

Global events and corporate scandals have prompted a closer look at corporate governance practices around the world. When you need help in establishing a better governance structure, our professionals can help you. We help strengthen our clients’ governance structures – structures that underpin optimum corporate performance and ensure rigorous regulatory compliance. 

Family Governance

Family businesses have very common challenges ranging from business growth, risk management, and family succession planning, to the management and perpetuation of values, identity, culture, talent, and corporate governance. To support the growth of these dynamic businesses, Grant Thornton provides family governance services, focused on governance, culture and transparency solutions. Our goal is to help your business grow and advance for generations. 

Contract Risk & Compliance Services

Managing compliance and reporting obligations can enforce big demands on scarce resources. Grant Thornton’s compliance offering can help you achieve a high level of compliance cost-effectively. Our team of contract risk specialists helps our clients deliver improved business performance with demonstrable results in their contract arrangements. We can help manage the risks embedded within supplier contracts and address oversight, transparency of operations and billings, and compliance to contractual terms. 

Business Process Improvement

Our business process improvement offering provides a sharper focus on internal controls through procedure manuals and training programmes that not only reinforce the desired view of ‘the way things should be done’ but highlight non-standard practices and improve communication and awareness of the control environment. 

Policies and Procedures Development

Policies and procedures are the strategic link between the company's vision and its day to day operations; it allows management to guide operations without constant management intervention. Developing standard operating policies and procedures and a detailed flow of activities is critical to the success of any organization. At Grant Thornton, our service offering provides a sharper focus on internal controls through procedure manuals, process maps and key controls that not only reinforce the desired view of ‘the way things should be done’ but highlight non-standard practices and improve communication and awareness of the control environment. 

Organizational & HR Advisory

Grant Thornton can assist when the client needs advice for issues which relate to HR. Our global services in organizational development and HR advisory are focused on addressing the business risks for the enterprise and for providing specialty consulting for HR-related issues. Our risk services team supports organizations in designing, implementing and improving their HR strategy, policies, and practices and assists them in accomplishing a desired and effective change. We analyze bottlenecks and issues faced by the current business processes, identify cost reduction opportunities, and assess whether the organization design and performance metrics support the strategic goals. 

Forensic Services

When risk turns into reality, you need a team of professionals that can react quickly and bring clarity to the situation so decision-makers can determine the best course of action. Whether you are facing whistle blower allegations, regulatory scrutiny, complex litigation or corruption across the globe, our Forensic Advisory Services professionals can help bring the clarity you need to manage adversity, protect value and return to normal operations. We provide services including investigations, corporate litigations, and dispute consulting. 

Data Analytics

Any organization that ignores data analytics risks being left behind in a competitive marketplace. Businesses have large amounts of data at their fingertips, but there is also an enormous amount of data they are not leveraging on because they cannot effectively access or use it. A well-considered analytics strategy provides valuable insight into an organization and can enable timely business decisions that will reflect market conditions well into the future, along with giving an organization the power to optimize its operations for future growth and profitability.

At Grant Thornton, we help organizations of all sizes make informed decisions by making sense of the numbers. Our philosophy is that data analytics must enable organizations to solve specific problems and help create opportunities. Our strong analytics program provides a roadmap for consistently transforming data into business and operational insight.

Sunil Thakkar Partner -Business Risk Services

sunil.thakkar@bh.gt.com