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Audit and Assessment

imageEnvironmental release, product contamination, fire, terrorism—with an agglomeration of threats competing for your attention, it can be difficult to step back and create a high-level corporate risk snapshot. But effective measurement and monitoring of risks starts with an understanding of which activities have the greatest potential to destroy business value. Do you assess your processes with an eye toward safeguarding business value? Is your audit function designed to protect the heart of your business?

Business risks constantly grow and evolve, often forcing organizations into reactive mode. Everyday issues can divert attention from the important task of rigorously assessing processes to determine which involve material risks—those that have the potential to reach a predefined important impact threshold. Businesses that lack this important baseline cannot properly prioritize or allocate resources.

Core Systems Group can help you measure the maturity of your business and IT audit processes and determine how they affect risk, enabling you to say:
• I understand the relationships and dependencies among our business processes,
IT processes, asset management, and risk management.
• We employ, or are working toward, best practices that help us eff ectively manage our risks.
• We know which risks are material to our company, and we have built that understanding of
materiality into our audit practice.
• Our audit function is designed to support our business goals.

Core Systems Group can help you create a comprehensive overview of your business,
highlighting elements of risk and opportunities to mitigate that risk. We can work with you to
determine the materiality of your operations, processes, and activities, and the risks aff ecting
them, enabling you to better prioritize your investments and allocate your resources. In
addition, we can advise you on integrating materiality into your audit policies and criteria to
ensure your audit function also protects your business and supports your overall strategy.

Core Systems Group experts have conducted assessments in the fi eld, and they have advised
major corporations on how to incorporate the concept of materiality into their audit
functions. Th ey round out this experience with expertise in business continuity, strategic risk
management, crisis planning, service continuity, security, information technology excellence,
project management, and change management.

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