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

1

Implement approach to identify and evaluate enterprise risks of the company.

VIP Solutions Case Study

Incorporate results into the business planning process.

VIP Solutions Case Study

Ensure internal audit plan addresses all significant risks.

SOLUTIONS

VIP Solutions Case Study

Conduct Enterprise Risk Assessment interviewing key members of senior management.

3

Evaluate and rank operational, financial, HR, legal and compliance risks.

VIP Solutions Case Study

Prepared risk-based internal audit plan.

All significant risks are
considered and assessed as part of
the business planning and internal audit process.