Enterprise Risk Management
Our ERM solutions enable organizations to anticipate uncertainty, spot new risks, and strengthen resilience for what the future holds.
750
+
Assignments
10
+
Years of Experience
0
+
Team of
Experts
30
%
Repeat Engagements
750
+
Assignments
0
+
Years of Experience
0
+
Team of
Experts
30
%
Repeat Engagements
Institutionalise risk management in strategy, governance and operations with COSO and ISO 31000 frameworks that safeguard value and growth.
Our experts offer solutions aligned with globally recognized frameworks such as COSO and ISO 31000, as well as the evolving SEBI LODR guidelines. We guide businesses in identifying strategic, operational, financial, and compliance risks. Our experts specialise in increasing visibility of critical risks, ensuring compliance, and responding to new challenges through risk assessments, control reviews, and reporting to the board. Through rigorous risk assessments, control reviews, and board-level reporting, we enhance visibility into critical risk areas, strengthen regulatory compliance, and equip organizations with the ever-changing risk landscape.
Service Areas Within Enterprise Risk Management (ERM)
Enterprise Risk Assessment & Registers
We identify strategic, operational, financial, compliance and emerging risks throughout the organisation and create enterprise-wide risk registers, incorporating a prioritisation matrix.
Risk Policy & Governance Framework
We develop risk governance frameworks and policies in accordance with changing government requirements and business needs and improve risk oversight with accountability, reporting and escalation processes.
Internal Controls
We review effectiveness of current controls, evaluate control gaps and recommend more effective controls to risks that can impact profitability and business performance.
BCP & Crisis Management
We prepare Business Continuity and Crisis Response Plans to enable organizations to respond to unexpected business disruptions, reduce downtime and keep the business running.
Risk Monitoring & Investor Dashboards
Our team continuously monitors Key Risk Indicators through dashboard reporting and periodic reviews.
Risk Reporting & Board Advisory
We create board-ready dashboards, risk heatmaps, risk committee presentations and document for audit committees and listed entity disclosures.
Ascentium Insights
Frequently Asked Questions
What is Enterprise Risk Management (ERM) and why is it important?
Enterprise Risk Management is a systematic process of identifying, assessing, managing and monitoring risks throughout the enterprise. It enables companies to mitigate risks, make informed decisions, enhance governance, and ensure resilience against unpredictable events like regulatory shifts, cyberattacks, and market fluctuations.
How is ERM different from internal audit or compliance?
Internal audit checks controls and processes and compliance checks laws and regulations. ERM is more holistic because it’s about risks that can affect enterprise goals rather than just specific areas, and it enables enterprise leaders to take proactive action to manage risks throughout the enterprise.
Is ERM mandatory under SEBI LODR requirements?
SEBI LODR mandates a formal risk oversight system for top listed entities and some High Value Debt Listed Entities (HVDLEs) with robust board oversight and risk management framework. Though not a requirement in all organizations, ERM is very relevant in enhancing governance, stakeholder confidence, decision-making and readiness of businesses to face changing risks from regulatory and/or business environment.
What are the frameworks used for ERM implementation?
We construct ERM frameworks that are consistent with internationally accepted practices and objectives including COSO ERM and ISO 31000 objectives, as defined by the business or regulatory needs. Organizations listed on stock exchanges and larger companies in need of enhanced board oversight, governance integration, and strategic risk management will most likely adopt COSO ERM. Organizations that seek to integrate risk management into daily activities and decision making processes, and also into continuous improvement processes, as well as across functions, are better served by ISO 31000, which is more flexible.
What are the types of risks covered under ERM?
ERM addresses all types of risk, from strategic, operational, financial, compliance, cyber, fraud, reputational, third-party to any new risks that could affect an organization’s goals. After these risks are determined, the risks are then usually measured according to different criterias like likelihood of occurrence and potential business impact. Using these considerations, risk scores are assigned and then plotted on a risk heat map or risk matrix to assist organizations with prioritizing what risks are most critical and should be addressed with mitigation measures.
How does ERM improve board reporting?
ERM enhances board reporting with the use of dashboards, risk heat maps, risk registers and structured reporting processes. This provides leadership with greater awareness of the critical risks, progress on mitigation and threats that are developing to help them make quicker decisions.
What are the typical phases involved in implementing an Enterprise Risk Management framework?
ERM implementation starts by knowing the business goals of the organization and the key challenges that the organization is facing. Thereafter risks are identified, assessed and documented for each function according to the level of impact and likelihood that it has. Businesses then draw up action plans, allocate responsibilities, improve the reporting mechanism and regularly review the risks, ensuring that the framework is practical, effective and continues to meet the needs of the business.
How long does ERM implementation take?
ERM implementation varies based on the size, complexity, and existing risk practices of the organisation. Basic risk assessments can take several weeks and building enterprise-wide frameworks can take several months involving governance structures, risk registers, policies and reporting mechanisms. The objective is to develop a realistic structure that will fit into current business systems.
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