Many accounting firms have expanded their services to go beyond those of tabulating costs, expenses and income for their clients. You are an integral part of their success and must be at the forefront of their day to day needs. You must be relevant while planning for the future.
Strategic Risk Management is an area that deserves more time and attention depending upon the “Mission” of the customer. Through the implementation of the ClearRisk Manager Risk Management system and Diane’s knowledge in the area of Strategy analysis, your client will gain more leverage in their expansion or their diversification goals.
- Increased costs to operate and the cost of insurance are a serious factor. Can they afford the insurance? Do they have enough insurance? Are there other types of insurance they might consider and if so at what cost?
- What other methods of contractual transfer or mitigation are available to them?
As their financial advisors, you have their financial history. Are these records being analyzed and are the correct questions being asked? What is their 2 year, 3 year or 5 year plan? Will the customer grow or will they be acquired by a larger firm? Is there a corporate partner in the wings? What are the ramifications of this?
We can assist in the analysis of any forward planning such as this.
- Emerging Risks: What are these and how do they impact your client? Will there be a financial impact?
- Insurance: Would an independent opinion be useful to your client? How can we simplify their total operating costs including payroll, costs of insurance, other professional fees? Would a form of Self insurance be a useful alternate tool? Through the drafting of a Risk Management analysis, your client will gain additional knowledge for future decisions on these and other similar matters.
- Continuity Planning: Is discussed at the board level but who is drafting the plan? Whether speaking to a public entity or a non profit organization, their vulnerabilities must be addressed and we can help with these while providing solutions through the use of the ClearRisk Manager program and Diane Baker’s knowledge as a Chief Risk Officer.
- Cyber Threats: Is there a threat and is there a contingency plan in place? Are the employees and executives protected against Identity Theft? This is the fastest growing white collar crime in Canada today as Canada is an extremely fertile ground for Cyber Crime. The cost of such a policy is extremely affordable.
We offer the services of a qualified Chief Risk Officer on a project basis for a fee and assistance on a variety of matters.