Business operations are, in most cases, complex. They are carried out by employees of different levels, who may be well trained or experienced, or who may be new staff who may not yet be proficient in handling them. Knowledge is not the only concern because there could be some employees who might conduct unscrupulous actions that may be harmful to the organization.
It is virtually impractical to expect business managers to supervise all daily work carried in operations. So mistakes can be made that could result in significant ramifications to the objectives of the organizations. Hence, there should be management systems put in place that could help trigger off alarms when things go wrong so that remedial actions can be taken to avoid damage and losses. Enterprise Risk Management (“ERM”) is the umbrella management system that could highlight potential risk and vulnerabilities in an operating platform. When such are identified, risk management actions and Internal Controls can be put in place.
Jacob Armor Business (“JaBA”) has been helping organizations to implement risk management and Internal Control systems in place. JaBA employs propriety software in risk management and Internal Controls, together with best practices as benchmarks. Using JaBA’s methodologies, business operations are made resilient against mistakes and misdoings meeting the stringent requirements of listing requirements and corporate governance.