Taking a proactive, rather than reactive, stance on risk is possibly crucial to the survival of any organization.
Risk and Control Self Assessment (RCSA) is intended to be used as an avenue to generate a common understanding of the routine, day to day and strategic risk exposures that a company experiences. RCSA’s immediate goal is to assess, predict and/or avoid future issues, problems or risks.
It is essential for every organization to learn the value of Risk Management in order to foresee the situations that could put their business at a disadvantage and know how to deal with each situation quickly and effectively when or if the time comes.
Read on to know more about the benefits of managing risk.
Views and opinions presented in this article are solely those of the author and do not necessarily represent those of PricewaterhouseCoopers Financial Advisors, Inc.
|Michelle A. Fajardo -Tengonciang is a Director at PricewaterhouseCoopers Financial Advisors Inc., the Philippine member firm of the PricewaterhouseCoopers global network.
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