Risk assessment service, as its name suggests, entails assessing the risks to which the entity is exposed and recommending mitigating procedures in relation to the entity’s control environment. Systematic and non-systematic hazards are among those to which the entities are exposed.

We, at Elucidation for Accounting, offer risk assessment services that take into account all risks influencing the entity. Our service delivery methodology is as follows:

·        Identification of the hazards to which the organization is susceptible.

·        Reviewing the existing control environment for risk mitigation within the entity.

·        Comparing mitigated and unmitigated risks and determining the impact of risks not mitigated by the entity as of the date of our assessment.

·        Review of the entity’s risk mitigation costs and recommendations for cost reduction strategies while maintaining the entity’s risk appetite.

·        Delivering deliverables in accordance with the agreed-upon scope and timeframe.