External independent assessment of ICS and RMS

Background

• Development of an understanding of the current level of maturity and effectiveness of the ICS and RMS and determination of the direction for their further development.
• Implementation of the Central Bank’s recommendations on assessing the ICS and RMS in relation to public companies.

Kept approach

Maturity assessment is performed in terms of the ICS and RMS components:

• organization management and the control environment;
• strategy, goal setting and risk assessment;
• control procedures and effectiveness;
• information and communication, reporting;
• monitoring.

Kept methodology

When performing projects on the external assessment of the ICS and RMS, we use our own maturity assessment model adapted according to the applicable international methodologies and standards (COSO/ISO), as well as Russian requirements and recommendations.

Benchmarking

As part of the ICS and RMS assessment, a benchmarking study may be performed at the client's request on certain ICS and RMS issues in relation to comparable Russian companies and best practice examples.

Value to the business

• Independent view of the current organization of the ICS and RMS in the company, corporate risk culture, level of maturity of risk management processes and design of the control environment.

A clear development plan and practical recommendations on improving the ICS and RMS.