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Enterprise Risk Management (ERM) Solutions

A good risk management solution can be like money in the bank

Enterprise Risk Management (ERM) has long been considered a leading practice; however, recent events have created significant financial opportunities for its implementation. As audit committees, boards of directors, CEOs, CFOs, and CAEs demand greater transparency and corporate governance, enterprise risk management provides the framework that allows these companies to improve operational performance and increase stakeholder value.

Most importantly, effective enterprise risk management solutions now can create a competitive advantage for you in your industry.

In a 2008 survey conducted by the Institute of Internal Auditors, 65 percent of the CFOs and 70 percent of the audit committee members participating cited managing enterprise risk as their organization’s biggest challenge. The survey included 783 respondents from firms ranging in size of revenues from $100 million to $10 billion.

Sarbanes-Oxley and the internal control framework set forth by COSO have provided a strong foundation upon which ERM can be built. However, as credit rating agencies progressively place greater importance on ERM in their rating analyses, those companies with strong ERM programs have the opportunity to benefit from superior credit ratings.

How do you develop effective enterprise risk management solutions? It’s a challenge, but our consultants have the experience that can help.

Taking a holistic approach to risk management makes business sense

The Plante Moran enterprise risk management consulting team will start by assessing the complete range of risks facing your organization and seeing how these risks interrelate and cross traditional business boundaries. The range may include credit risk management, control and operational risk management, integrity risk, market risk, human resources risk, liquidity risk, reputation risk, legal risk, and other pertinent factors depending on your unique situation.

Based on this information we will help you establish oversight, control, and discipline at the right levels of your organization so that risk management is woven into the “corporate” culture. In addition to helping you institute corporate risk management throughout your company culture, we will also help you set up an ERM monitoring program to identify emerging risks, limit uncertainty of known risks, and meet the needs of the company’s risk profile.

Because an ERM approach takes constant vigilance, you will appreciate working with our professionals. At Plante Moran we put clients first. That means we focus on you and your requirements. It also means you can expect to see familiar faces on the Plante Moran team throughout the relationship. And you will benefit from our colleague partnering and collaboration. Our professionals routinely combine their collective industry knowledge, experience, and specialized skills to offer our clients exceptional thinking and problem-solving.

“Plante & Moran has been conducting our audits for several years. They’re very proactive in keeping us abreast of all the compliance and accounting changes occurring in the nonprofit industry. I feel confident that when Plante & Moran makes a recommendation, their decision is based on solid research and industry expertise. Their responsiveness to any of our audit issues is also very reassuring. I look forward to our continued relationship with Plante & Moran.”

Reid S. Thebault, President & Chief Executive Officer
YMCA of Metropolitan Detroit, Detroit, MI