Why are internal controls part of risk management?

An effective risk management is closely linked to establishing a robust internal control environment. The controls and follow-up help management and employees understand potential risks and minimize them.

Risk management identifies, assesses, prioritizes and anchors the work with the company's specific risks.

Internal controls quality assure risk management through a systematic control environment that also supports the company in achieving its operational, reporting and compliance objectives.

Design a safety net

For example, a robust control environment can help your business:

• Compliance with laws and regulations
• Reliability in financial reporting
• Protecting your company's assets
• Reducing the possibility of fraud
• Determining responsibility
• Strengthened commitment and integrity

Find out more

On these pages you can read more about how you can work to identify relevant risks for your business. 

> Intro: Strategic risk management and internal controls
> Why are internal controls part of risk management?
> How do you uncover business risks?
> What does it take to get started?
> What can inforevision help with?