Risk Management

Despite modern business planning models and methods that are applied by a large number of organisations, in the course of planning quite often risk assessment is performed non-systematically and intuitively, and the risk management plan is not prepared at all. As a result, problems are solved once they arise, usually rather too late.

There is also a common perception of risk as an event or condition having a potential negative impact on the organisation’s operational objectives. However, an integrated risk management system will help to assess positive contingencies as well, i.e. opportunities. This leads to the increase in added value of the risk management system; not only threats, but also change-related growth and development opportunities stand out more clearly.

Solutions offered by PwC

  • Development and implementation of the system for an integrated risk management in accordance with one of the most advanced methodologies—the COSO Enterprise Risk Development and implementation of individual elements of the risk management system (risk identification, risk assessment, organisation of the risk management process).
  • Assessment of the existing risk management system of the organisation comparing it with the COSO Enterprise Risk Management, other advanced risk management models and standards and the best practices
  • Assistance in organising and performing sessions of risk identification and assessment.
  • Independent assessment of compliance with external requirements (standards, guidelines, requirement of supervisory bodies, etc.) and assistance in optimising the process of compliance ensurance
  • Assistance in developing processes and internal controls to ensure compliance with external requirements.
  • Assessment of the internal control system within the scope of the entire organisation and the individual process with the aim of optimising internal control measures to ensure a suitable risk level.

Contact us

Birutė Purvaneckaitė

Birutė Purvaneckaitė

Director, Advisory services, PwC Lithuania

Tel: +370 686 25085

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