Governance, risk & assurance
The management of risk and implementation of robust corporate governance has become an increasingly important aspect of global business. Many companies are required by law, regulations or stakeholders to adopt governance processes and procedures, but even more choose to do so as part of a successful business strategy. Our Governance, Risk & Assurance Group offers a range of services designed to support boards in maintaining robust governance and assurance frameworks and managing risks effectively.
We work with businesses in all sectors, advising on their governance structures, providing comfort on their control environments and helping to embed transparency and accountability. Our governance, risk and assurance services can be split into five areas: corporate governance, controls assurance, internal audit, IT assurance and risk management.
First Accountant provides the full spectrum of actuarial advice and support, incorporating advanced business practices, market-leading technology and state of the art risk modelling techniques and tools to deliver a range of powerful solutions and services.
Our detailed knowledge of the London market, corporate and captive insurance sectors enables us to provide you with valuable insight and a professional service for your actuarial enquiries.
Our actuarial services:
· Reserve studies and estimation;
· Pricing analysis (personal and commercial lines)
· Financing modelling - Dynamic Financial Analysis;
· Solvency II capital modelling and reporting;
· Stress and scenario modelling;
· Reinsurance programme design and optimisation;
· Catastrophe modelling;
· Data mining and general statistical / analytical support;
· Risk management;
· Transactions and restructuring;
· Due diligence support on acquisitions.
Counter fraud and bribery
Reducing the risk of financial and reputational losses as a result of fraud, bribery and corruption is a critical aspect of global business. In many instances, it is easier to increase profits by reducing fraud rather than increasing productivity or efficiency, with many companies choosing a proactive action not reaction approach as a opposed to simply investigating fraud once it is discovered. Robust risk management and a sound corporate governance and policy framework will only be successful if it includes a comprehensive strategic and operational approach to countering fraud, bribery and corruption.
First Accountant offers a range of services designed to help you create and embed a strong anti-fraud/corruption culture and build deterrence/prevention and detection strategies and processes through awareness, training, policies and controls.
Unfortunately, there will always be a need for investigations - these should be conducted professionally and cost-effectively without question. We are able to conduct such investigations, gathering evidence to a standard that can be used in criminal, civil, disciplinary and regulatory proceedings.
Organizations are increasingly required to demonstrate effective corporate governance to meet the high expectations of all their stakeholders and comply with best practices such as the Combined Code and Turnbull requirements. Effective governance is fundamental to the performance of a business.
Good corporate governance ensures that transparency, accountability and fairness are embedded in the decision-making process of your organization. To achieve this, our team will work in partnership with you to help develop an effective corporate structure with strong procedures, leveraging our knowledge of best practice in similar businesses.
Once in place, we then assist in the maintenance and monitoring of your governance framework and procedures to ensure they continue to meet your and your stakeholders goals.
And while good corporate governance procedures will meet the needs of your organizations shareholders and other stakeholders, it is not the only benefit. Good corporate governance will have a positive impact on the effectiveness and capabilities of your whole organization, providing the right platform for increased turnover, efficiency and profitability.
EU General Data Protection Regulation (GDPR)
Organizations have until 25 May 2018 to fully comply with the new GDPR regulations and it is imperative that organizations fully understand the requirements of GDPR and prepare well in advance to avoid being hit with heavy fines. Breaches within the regulation around the collection, usage and maintenance of personal data are significant, but the loss of customer and stakeholder confidence leading to a loss of reputation could be terminal.
There are a number of aspects to the GDPR that will take some organizations considerable time to achieve and all organizations should be looking at this now. This draws on a range of governance, risk and assurance capabilities as well as in-depth technical and data protection skills.