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Compliance Risk Management in Azerbaijan: A Vital Component of Business Strategy
In today’s complex business environment, compliance risk management has become a critical component of any organization’s strategy. Deloitte Azerbaijan offers a range of services designed to help companies in Azerbaijan design, implement, and improve their infrastructure related to specific risks affecting the organization.
Our Services
- Risk Analytics and Measurement: We provide solutions and frameworks to help companies monitor ongoing monitoring, build out data management capabilities, and develop key performance indicators (KPIs).
- Risk Reporting: We assist clients with establishing a documented and consistent reporting process for management and regulatory risk reporting.
- Risk Data Management: We help companies manage their risk data efficiently and effectively.
We also work closely with organizations to implement risk appetite and utilization monitoring capabilities and establish related risk governance structures needed across the enterprise. Deloitte Azerbaijan professionals can assist in developing a strategic approach to managing risk that simultaneously addresses management expectations and provides solutions for both risk management and regulatory compliance.
Risk Assessment, Monitoring and Management
Our Risk Assessment, Monitoring and Management services focus on designing, implementing, and improving specific risk capabilities such as:
- Risk Governance and Oversight
- Risk Policies and Procedures
- Risk Identification and Assessment Support
- RCSA Programs
- Risk Analytics
Risk Benchmarking and Analysis
Our Risk Benchmarking and Analysis services assist clients in assessing and benchmarking risk management capabilities against regulatory requirements and industry practice expectations.
Risk Management Processes and Systems
Our Risk Management Processes and Systems services help evaluate risk management process efficiency and effectiveness considerations.
As Risks Rise, Boards Respond: A Global View of Risk Committees
Boards of directors have been working hard to fulfill their risk oversight responsibilities in a challenging environment. Regulations are changing rapidly in most industries, and vary significantly across countries. Investors, analysts, and the public are demanding greater transparency into risk and risk management, as are creditors, counterparties, and other stakeholders.
What’s Risk Got to Do with It?
If you asked CFOs to list the major uncertainties they’ve grappled with over the past couple of years, you might get consensus on risks such as:
- Economy
- Regulation
- Commodity pricing
- Consumer demand
But, you would probably get little agreement on how they’ve factored such risks into their financial forecasts and planning.
Inside Magazine
With today’s heightened awareness of the need for anticipating and managing risks in an ever- more dynamic and uncertain environment, boards, audit, risk and compliance committees and C-suite executives are striving to better understand the broadest range of their actual or potential risk exposures and the effectiveness of their governance, risk, and compliance infrastructure.
A Corporate Governance Breakdown
Exposing companies to greater risk of fraud and corruption
Internal auditors play a vital role in reducing the risk of fraud, corruption and other corporate wrongdoing. Yet, according to Deloitte’s new analysis of member survey data from The Institute of Internal Auditors (IIA), 62 percent or more of internal audit functions at public companies globally do not comply with all of the IIA’s International Standards for the Professional Practice of Internal Auditing.
Meet Tural Hajiyev
Tural is Risk Advisory Partner at Deloitte Azerbaijan. He joined Deloitte in 2003, specializing in corporate governance and risk management as well as organizational and operational efficiency engagements. For more information, please contact Tural at [insert contact information].