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Risk
Management All businesses face risks. Anything from unexpected personnel problems to machinery breakdowns can spell heavy losses. That’s why every company must constantly re-evaluate its processes and adapt to change. There are risks at every stage that need to be identified, prioritised and managed. HLB International member firms provide businesses with risk management advice and support, drawing on the resources, expertise and experience from around the world. What is Risk Management? Fraud Prevention HLB International member firms can run a fraud “health check” on a business. This increases awareness of potential fraud and identifies areas most at risk. These are reviewed in depth. The design of a formal corporate policy covering the reporting and handling of fraud cases is part of the service. Due Diligence, Forensic Accounting and Litigation Support Many disputes have a financial dimension that leads to litigation. For example, loss of profits, business interruption, partnership and shareholder disputes, due diligence on company acquisitions and disposals, personal injury, divorce and fraud. HLB member firm specialists help bring prompt settlements, ensuring savings in professional fees and management time. Internal Audit, including IT Internal audits not only uncover weaknesses in accounting procedures, they can be an independent assessment of all management systems – from strategic and business planning, personnel selection and monitoring, organisational structures, computer system reviews to marketing functions. Member firms also assess company performances against relevant indicators. Overall, performance assessment and correct management reporting ensure maximum efficiency. Value for Money Audits These ensure that the business is making best use of resources. A VFM audit may result in substantial savings. Environmental Audits Complying with environmental legislation is an arduous task, but it can prove critical when buying or selling a business, affecting a sale price dramatically. HLB International member firms can help organisations save money. Approach Understand the organization Establish relationships Involve senior personnel Employ qualified and experienced specialists Apply the latest technology Work with specialist alliance partners, where appropriate Provide complete service, or work in partnership with client personnel Transfer skills Provide value for money Member Firm Clients Local and national government departments Multi-national commercial and industrial groups International and regional funding agencies, like the World Bank and European Commission Small and medium sized businesses HLB International Formed in 1969, HLB International is a world-wide network of independent professional accounting firms and business advisers. The network comprises member firms in over 100 countries who, collectively, have more than 1,750 partners and 13,400 staff in over 440 offices. |
