Corporate Governance

Today’s environment requires building a culture of risk awareness and risk management across the organization in order to comply with Sarbanes-Oxley or other regulatory requirements. This resulted from numerous restatements caused by accounting errors, material control weaknesses and inadequate governance structures. An organization needs to be able to monitor and constantly mitigate risk as efficiently as possible, which means having a set of controls that are streamlined and effective. At the same time, an organization has to stay compliant with its regulators and overseers.

While both education and awareness at all levels is required, organizations seek to leverage their various compliance and risk management efforts to drive enhanced business value. These critical business initiatives could have a profound impact on the overall transparency of financial disclosures and the effectiveness of today’s complex control environments.

A strong culture of risk awareness and risk management across the organization, while avoiding redundancy in controls, provides for adequate risk monitoring and mitigation and enhances the organization’s overall, movement towards a proactive risk response. This proactive approach will help avoid “surprises”.

Huron’s Corporate Governance Advisory Services team can assist management in defining the focus on critical risks and the processes to manage those risks. The team provides the following services: