Oil & Gas
INDUSTRY
1,100
EMPLOYEES
$5B
ANNUAL REVENUE
Enterprise Risk Assessment
VIP SOLUTIONS CASE STUDY
BACKGROUND
A high-growth midstream oil & gas company did not have a method for identifying and evaluating enterprise risks to support strategic planning activities and focus internal audit efforts.
OBJECTIVES
Implement approach to identify and evaluate enterprise risks of the company.
Incorporate results into the business planning process.
Ensure internal audit plan addresses all significant risks.
SOLUTIONS
Conduct Enterprise Risk Assessment interviewing key members of senior management.
Evaluated and rank operational, financial, HR, legal and compliance risks.
Prepared risk-based internal audit plan.
All significant risks are
considered and assessed as part of
the business planning and internal audit process.
considered and assessed as part of
the business planning and internal audit process.
