Risk Management Audits

The risk management audit process is used to evaluate the effectiveness of the current program and is the tool used to determine future risk management goals. This service is often used to fulfill the due diligence requirements during mergers and acquisitions. It is also used by audit committees to review current risk management practices within the organization.

A risk management audit includes:

• Discussions with management concerning organizational structure, objectives, and tolerance for loss

• Identification and schedule of exposures to property and liability loss

• Examination of current insurance policies for coverage gaps

• Review of loss prevention and loss control procedures

• Analysis of insurance expenditures for cost effectiveness

The audit report will include the results of our findings and our recommendations for improving your overall risk management program.