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Risk Advisory Services
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We understand... |
In today's business world companies are
under pressure to produce ever-better
results while managing a wide range of risks
that can threaten their survival.
Companies often have an initial risk issue
that requires a rapid response. This can be
the trigger to look at longer term risk
management strategies. Companies may need to
ensure they can integrate their activities
effectively, align existing infrastructure
to new business requirements, or put
necessary business processes, systems, and
controls in place.
As well as having to meet a new range of
regulatory requirements worldwide, such as
Sarbanes-Oxley, our clients are facing calls
from stakeholders for greater transparency
and stronger corporate governance. More and
more boards are asking how they can secure
some commercial return on the substantial
investment this requires.
iWaves firms' breadth of risk advisory
services is based on substantial technical,
industry, and process skills. These can help
clients respond to both immediate risk and
compliance needs and longer term improvement
to business processes and performance. |
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Information Risk
Management |
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Technology enables rapid global business
growth and advancement. It is also a major
source of business risk.
Boards and senior executives recognize the
importance of technology, but can struggle
to understand and manage it effectively.
Often, business executives and IT
professionals don't speak the same language.
This communications gap can lead to
misunderstandings and misaligned
expectations and outcomes.
iWaves's Information Risk Management
practice helps bridge the communications gap
with a combination of technical skills and
business experience. |
 Information
Systems (IS) Goverance |
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Effective IS governance helps ensure that
business systems deliver value and that the
risks inherent in using technology are
managed. Information Technology (IT)
performance is continually being questioned
in the light of changing business and
regulatory requirements, such as
Sarbanes-Oxley, International Financial
Reporting Standards (IFRS), and Basel II, as
well as the requirement for transparency to
shareholders. The IS governance structure
should be designed to meet all these aims
and to fit within the corporate governance
framework. Effective IS governance is
increasingly considered mandatory by boards
and management.
How
iWaves Can Help
iWaves's
global Risk Advisory Team looks at the
measurement, management, and reporting of IT
performance to help ensure that the risks
and costs inherent in the use of technology
are appropriately communicated and
controlled. IS governance addresses a number
of concerns organizations may have such as:
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Inappropriate IS strategy.
Alignment of IS strategy to business
strategy is critical. Without alignment,
management decisions may result in
inappropriate investments in or poor
implementations of new systems.
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Difficulty in quantifying the value of
IS. This is particularly
important during acquisitions or
disposals. The value derived from the
impact of IT should always be known. The
absence of this information could result
in inappropriate investment decisions.
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Uncertainly as to the true cost of IS
Before investments or changes are made,
an organization should know the current
cost in IS. Without a comprehensive
management overview, this can be
difficult to ascertain.
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Performance improvement systems.
Measuring and improving IS is a constant
challenge. Performance must be
measurable to determine that the
investment in IT is properly managed,
technology risks are appropriately
controlled, and a baseline for
improvement is established.
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Regulation and compliance frameworks.
Compliance frameworks can be costly and
complicated to implement. Without them,
however, organizations may increase
their risk of fines and the risk of
their IS assets being badly managed.
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