Risk management / compliance management

Recognize risks at an early stage in order to be able to take appropriate preventive measures. Ensure compliance with applicable regulations in order to minimize liability risks.

Risk management systems

The German Stock Corporation Act obliges the Supervisory Board to deal with the risk management of its company as part of its general supervisory duties. For medium-sized companies organized in other legal forms, the implementation of a structured system for early risk detection and prevention might also be useful.
Risk management includes assessment, management and communication, whereby the assessment covers the identification, analysis and evaluation of risks.

To begin with, the management of risks requires their identification. It can be problematic that different individuals perceive the same risk differently (selectively). If a risk is not recognized in the first place, it cannot be managed.
The main task of a risk management system is therefore to initially ensure the objective perception of risks.

Risk management / compliance management - Risk management - Risikomanagement 1

Compliance management systems

The task of compliance management is to ensure that an organization operates in accordance with the standard regulations. This includes compliance with both legally binding and ethical rules.

The establishment of appropriate structures and processes within the company should ensure that all regulations that are relevant to an organization are also considered. Furthermore, the establishment of a corresponding compliance culture within the company is of particular importance.
This encourages employees and managers to comply with existing rules and to point out circumstances that are not compatible with the applicable laws or ethical standards.

What are the possibilities of RMS and CMS for SMEs?

The implementation of an RMS and CMS offers the opportunity to identify significant risks at an early stage and to avoid risks arising from breaches of the law or ethical principles. In addition, they also offer the possibility of exemption from liability or at least reduction of a sanction by a court.
The same applies to tax matters. The implementation of a TAX-CMS also has the effect of reducing sanctions.

Risk management / compliance management - Risk management - Risikomanagement 2

Our consulting services

We support you in all matters relating to the implementation of appropriate systems in your company. We also offer audits in accordance with IDW PS 980 (compliance management systems) and IDW PS 981 (risk management systems).


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