Effectively managing risk is now a fundamental concept in business. Pine Hill Group professionals have the experience, tools, and staff to help both public and privately held organizations.
Enterprise Risk Assessments and Management
Enterprise Risk Management (ERM) is the process of planning, organizing, leading, and controlling the activities of an organization in order to minimize the effects of risk. But before a company is able to begin, it must first identify the significant exposures.
Using an array of techniques, Pine Hill Group can perform an Enterprise Risk Assessment to define your risk universe, quantifying the results via an impact and probability analysis. We can then develop an action plan. This may include the development and subsequent execution of an internal audit program.
Internal Audit Co-Sourcing and Outsourcing
We can act for our clients as an "internal audit" resource. Some firms need internal auditing but don't have the in-house resources to establish this function. Here, we can provide a continuous, full-service engagement. In other circumstances, your business may have identified a specific need, such as fraud or financial reporting irregularities. In this situation, Pine Hill Group, on a limited scope arrangement, will not only identify the source but also develop the controls to quickly flag potential issues and prevent them from re-occurring.
Contracting your internal audit to the Pine Hill Group offers multiple benefits: it enhances the independence of the internal audit, provides consistent access to technological and analytical skills, and frees your management to focus valuable energy on more strategic initiatives.
Our distinctly different approach
Pine Hill Group has developed a unique system for implementing an internal auditing function. We initially involve all levels of management in the development of an internal audit risk assessment and the resulting audit plan. This ensures practicality and includes a mix of operational, compliance, system, and financial audits to best satisfy your objectives.
We prefer to include senior resources outside of your firm's Risk Advisory Services practice during the assessment phase. Our professionals possess strong technical skills and depth of experience within a number of different industries. This expertise is essential because it offers much more objectivity. Our experts will complement the skill set of your own Risk Advisory professionals, resulting in risk assessment that more holistically reflects any challenges facing your organization.
Control Environment Assessments
Not all Risk Advisory Service engagements include a testing phase. Private organizations have fewer compliance requirements than their public counterparts, and therefore tend to have less formalized controls and procedures in place. We are used to stepping in at whatever stage your firm needs outside help.
A variety of factors might motivate a company to perform a control environment assessment:
- Fraud has been detected
- Ongoing financial reporting irregularities
- Your firm needs enhanced understanding of a newly acquired entity's control environment
- Your business is exploring the option of going public, and wants to lessen the burden of year-one Sarbanes-Oxley Compliance--if and when the IPO occurs.
A successful track record
Benefit from our ability to staff our clients' projects with experienced professionals, capable of helping you to gain efficiencies while operating within the control environment. Contact us today.