Organizations in the public and private sectors spend literally billions each year on assurance activities. Money is spent to comply with onerous securities laws like Sarbanes-Oxley, meet officer/director due diligence expectations, comply with sector specific requirements in heavily regulator industries like banking, insurance, utilities, food processing, pharmaceuticals, oil and gas, and others. Funds are earmarked for internal audit, external audit, compliance, risk management, insurance, safety, environment and more. The primary purpose of all of this spending is simple – help provide assurance to senior management and the board that what is suppose happen does and that negative, unwanted events don’t occur or, if they do, that damage is contained.
Unfortunately, in all too many instances, traditional silo-based approaches to assurance haven’t worked very well. Recent events confirm that entity-crippling events continue to occur at a shockingly high rate, even in companies regarded as having excellent managers, and in spite of massive amounts being spent each year on traditional risk and assurance activities and methods.
Leech & Co GRC offers Governance, Risk and Compliance services specifically designed to dramatically increase the payback on the money your organization is spending on assurance through Risk Oversight Inc. (www.riskoversight.ca). Leech & Co GRC Managing Director, Tim Leech, is recognized around the world as risk and assurance change agents and thought leaders. Take some time to explore how Risk Oversight Inc. can help change the way your organization thinks about assurance. Contact Risk Overisght Inc. today for more information.