HLB HAMT is providing one of the best Internal Audit and Risk Advisory Services UAE. contact us to know more about Risk Advisory Services in Dubai.

1. RISK ADVISORY SERVICES
IN DUBAI - UAE
https://hlbhamt.com/

2. A risk is described as an event or occurrence that, if left unnoticed and unaddressed,
might prevent an organization from achieving its goals or objectives in internal audit
and risk advisory services UAE. As one of the leading internal audit companies in the
UAE, HLB HAMT’s risk advisory team includes a team of professionals who help
organizations in several areas of risk advisory services in Dubai. Businesses around
the globe recognize risk as a source of competitive advantage. Organizations can
unlock their full potential by better understanding and managing risk, producing and
safeguarding value for all of their stakeholders.

3. Strategic Risk
The risk that an organization faces as a result of poor business
decisions is known as a strategic risk. Strategic risk is frequently
a key component in assessing a company’s worth, especially
when the company’s value drops dramatically in a short period of
time. It is a leading factor in modern risk management because
of this and its impact on compliance risk.
Operational Risk
The risks that a firm encounters in the process of performing its
everyday business operations, procedures, and systems are
referred to as operational risk. It is largely reliant on human
factors, such as errors or failures caused by a company’s workers’
actions or decisions.
Risks are categorized in most businesses as Strategic, Operational, Financial, and Compliance
Risks.

4. Compliance Risks
An organization’s potential exposure to legal penalties, financial
forfeiture, and material loss as a result of failing to operate in line with
industry rules and regulations, internal policies, or recommended best
practices is known as compliance risk.
Financial Risk
The possibility that a company’s cash flow may be insufficient to satisfy
its obligations—that is, its loan repayments and other debts, is referred
to as financial risk. It can happen as a result of management decisions,
particularly those made by corporate financial experts, as well as the
performance of the firm’s products.

5. Risk is an inherent part of doing business. However, with the assistance of the top-risk
consulting services, it can always be handled. Organizations may also efficiently handle
market changes, tough consumer expectations, and the ever-increasing scrutiny from
regulatory organizations and other government agencies with the proper Risk
Management Strategies in place.
HLB HAMT, a top risk advisory services firm in UAE, can assist your company in better
risk management. Our industry-leading teams can advise you on how to incorporate risk
into decision-making and transform interruptions into business opportunities. We follow a
well-documented, systematic and sequential approach in our risk assessment and advisory
services.

6. 1. Understanding the Organization We will collaborate with the management to
understand your business, mission, objectives and your operation in all its complexity.
This requires analyzing the external and organizational environment and the risk
management environment, in which risks can be identified, analyzed and minimized.
This analysis will cover the entity as a whole or the individual processes. The context
will be agreed upon before initiating the risk management process, so as to assist in
the development of the assessment standards and the risk analysis framework.

7. 2. Identify Risks Identify what, why, and how events can arise, within the subject
entity, and which can prevent, minimize, or delay achieving objectives. Good
quality information is important in identifying risks. The starting point for risk
identification may be historical information about the entity followed by
discussions with a wide range of stakeholders about historical, current and
evolving issues.
3. Analyze Risks Risk analysis revolves around developing an understanding of the
risk. It provides input into decisions on whether risks need to be treated and
subsequently the most appropriate and cost-effective treatment strategies. Risk
analysis involves the consideration of the sources of risk, their positive and
negative consequences and the likelihood that those consequences may occur.
Factors that affect consequences and likelihood may be identified. Risk is analyzed
by combining consequences/impacts and their likelihood.

8. 4. Evaluate Risks Compare estimated levels of risk against risk criteria to provide a
basis for management to identify risk management priorities. If the levels of risk
are assessed as low, then risks may fall into acceptable tolerance levels and no
further treatment may be required.
5. Treat Risks Accept and monitor low priority risks. For other risks identified,
develop and implement specific management plans, including the resources
allocated to mitigate the risks to an acceptable level. There are several forms of
risk treatment such as avoidance, transfer, or reduction to an acceptable level after
taking into consideration the cost versus benefit of the risk treatment.

9. 6. Communicate & Consult The existence of each risk will be confirmed by
management through a direct discussion or an arranged review. Management
may disagree that a risk exists because controls are in place to prevent the risk
from arising.
Our consultants work with clients either on an assignment basis or on a long-term
retainership model, depending on specific needs.

10. CONTACT US
HLB HAMT
Level 18, City Tower-2,
Sheikh Zayed Road
PO Box 32665
Dubai – United Arab Emirates.
Tel: +971 4 327 7775
E-mail: dubai@hlbhamt.com