But is it really fair for an operational risk to be evaluated during the day when they are performing the very tasks that they are hired for? For example, let’s say a CFO was to review the operating cash flows for the last three years. During this review he or she would notice something unusual. The flow in one of the areas fell by 30%, something that would normally cause an audit of this area to raise red flags. But because this CFO didn’t feel the need to raise alarms, he or she could keep going with the day-to-day operations.
Now imagine if this same CFO was asked to review the accounting reports for the last three years. If she noticed that one of the areas that had been examined had an abnormal rise in one of their variables, but this increase did not affect any other areas in the company’s financials, then this would raise more red flags. This person would then be in the ideal position to ask the CEO of the company whether or not the company needed to look at tightening up its operational risk control policies.
This is why I think people should really consider taking a comprehensive operational risk assessment test before they go into business for themselves. You never know what kind of information you will find during an audit or investigation. And if you have employees, you really don’t want to find out that one of them has been defrauded or committed accounting fraud because of faulty or wrong data entry practices. When you take my exam for me, you can rest assured that the information and data that are collected will help you to make sound business decisions, and if anything should go awry, you will have the resources to manage it and make sure it doesn’t negatively impact your business.
One of the reasons I think people should seriously consider taking a comprehensive operational risk assessment is because you will be able to see where all your assets are at any given time. In addition, you will be able to see how well-protected those assets are from various threats. For example, if you discover that one of your warehouses is being attacked by armed terrorists, you will be able to quickly secure the area and close down your operation until you can get the FBI and military involved. You might even learn how to thwart the attack before it even begins.
When it comes to operational risk, you are going to learn a lot more about your company than just about any other type of risk. Because you won’t have the benefit of a long and detailed history to fall back on, you really need to learn everything you can about your company before you even attempt to make any changes. You will learn how your employees act at key points in time, how your production facilities are performing, what is going on with your supply chain, what legal issues your company may have, and how your customer service functions. Every operational risk can have a ripple effect on other aspects of your operations.
When you take my test for me, you will be able to see what areas you need to focus on. While you will need to remember a lot of very specific details about each of the events that had taken place, you will also gain valuable insight into your own company. How effective are your internal controls? What resources are you using to meet operational risk objectives? Once you know these and other operational risks that your company faces, you can begin working on ways to resolve them.
The benefits to taking my exam for you are numerous, including learning what areas are causing you operational risk in the first place. With this information, you can begin to develop processes and systems that address these issues, or you can conduct training to bring your staff up to speed on all of the operational considerations that they must take into account on a daily basis. Whether you choose to take my exam for yourself or you want to give someone else the gift of knowledge that will help them become more efficient at controlling their organization’s operational risk, it can be a valuable investment in improving your overall efficiency.