Given the current economic environment, many companies are reexamining their approach to risk management. Private companies in particular, not subject to public-company regulation and often less-resourced, may conclude that paying more attention to identifying and managing risk is quite relevant. There are a number of methods to risk management and internal controls, many of which can be scaled to the size and complexity of a company's operations.
Effective internal controls don’t just help a company reduce business risk; they also:
Managing risk: internal controls for private companies, provides the PwC perspective on how private companies can assess risk, implement improvements, and bring value to the business.