Case Study
Enterprise Risk Assessment
Oil + Gas
INDUSTRY
1,100
EMPLOYEES
$5B
ANNUAL REVENUE
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.
Objective
- 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.
Solution
- 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.
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