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Enterprise Risk Management

Value for stakeholders is created, preserved, or eroded by management decisions in all activities, from setting strategy to operating the enterprise day-to-day. Enterprise Risk Management (ERM) supports value creation by enabling management to: 

  • Deal effectively with potential future events that create uncertainty; and,
  • Respond in a manner that reduces the likelihood  of downside outcomes and increases the upside.

Building on the ISO31000 standard on risk management and the COSO ERM framework, PwC has developed and refined a pragmatic and intuitive framework for organisations to focus on. This framework encompasses:

  1. Strategy and policies - the focus on risk within strategy and policy;
  2. Processes – tools and techniques to assess, manage and monitor risk;
  3. Infrastructure – mechanisms to sustain a focus on risk management;
  4. Culture and behaviour – methodologies to create and maintain a risk-focused culture and behaviours.

The PwC ERM framework is applied to design, develop, improve or assess risk management practices on a company level, business unit level, for specific processes, projects or specific risk areas.

Contact us

Jock  Nunan

Jock Nunan

Country Managing Partner, Assurance Services Leader, PwC Bulgaria

Ilian Stoianov

Ilian Stoianov

Director, Risk Assurance, PwC Bulgaria

Tel: +359 895 558 319

Petko Petkov

Petko Petkov

Director, Risk Assurance, PwC Bulgaria

Tel: +359 894 421 042

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