Business Risk Services is the Advisory service line that helps clients comply with operating regulations, laws and requirements, including the following.
State and Regulatory Compliance Audit (GRC: Governance Risk and Compliance)
This line offers services so that as an independent firm can evaluate and conceptualize compliance with the regulations applied to entities, especially in relation to standards of the Colombian Financial Superintendence, and the requirements for foreign governments, as in the case Of the Sarbanes Oxley Act (SOX), the SOC audit (formerly SAS 70 and others).
Grant Thornton's methodology for the delivery of ERM services includes five phases:
- Phase I - Analyze the governance structure for the company's risk management
- Phase II - Identify the universe of risks and risk events
- Phase III - Create the risk profile
- Phase IV - Establish risk responses
- Phase V - Improve Monitoring and Reporting Processes