Risk analysis is a technical study that aims to identify and analyze the possible risks present in the companies’ environment, considering their Objectives, Internal Controls and Operational Processes, regardless of their activity and size. In addition, risk assessment is an essential element for business management and its objective is to determine the necessary measures to combat the risks encountered and assessed.
How to perform a risk analysis?
- Analysis of the work environment;
- Identify the risks;
- Analyze risks and carry out preventive measures;
- Document the risks and implement actions to mitigate them.
Review the risk analysis and optimize if necessary;
Now we will explain the step-by-step of each item mentioned above:
- Analysis of the work environment: It is important to remember that risk analysis works differently for each location and activity. Therefore, take the time to get to know the environment, the people involved, the processes carried out and the information that employees have to say, after all, they face the risks in their daily lives.
- Identification of the Riches: After analyzing the work environment it is time to analyze the risks present in the environment, you can carry out this step by noting all the steps of each activity seen in the analysis of the environment and identifying the risks with the employees.
- Analyze the risks and carry out preventive measures: After identifying the risks, you will be able to identify which activities (processes) are exposed to the risks and thus will carry out preventive measures and control procedures.
- Document the risks and implement actions to mitigate them: Document all analysis procedures; mapping and risk matrix. After the whole procedure is done, it’s time to review, review all the steps and complement if necessary. It is important to remember that any change in the environment, in the execution and in the work procedures must be accompanied by a new risk analysis.
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Source: Prof. Ibraim Lisboa (Consultant and Instructor of Corporate Training for the Audit Portal)
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