REVISED TESTING STANDARD IDW PS 340 N.F. PUBLISHED
Expand the capabilities of your corporate planning by establishing holistic risk management to complement controlling.
- Support business decisions and assess the future viability of your company with best-practice risk management methods.
- Report to target groups at the push of a button to the executive board, management and supervisory board with our flexible reports and dashboards. Easily meet the requirements of the new version of IDW PS 340.
An increasingly complex and dynamic business environment makes decision-making a growing challenge and demands more and more flexibility from companies. In order to be able to make the right decisions, it is essential not only to know individual risks and opportunities, but also to have an overview of the overall scope of risk and risk-bearing capacity and to be able to assess them correctly as part of corporate management.
>> CRISAM® MAKES IT POSSIBLE TO ESTABLISH RISK MANAGEMENT THROUGHOUT THE ENTIRE COMPANY AND TO LINK IT WITH CORPORATE PLANNING TO FORM A RISK-ADJUSTED CORPORATE MANAGEMENT SYSTEM.<<
In addition to the practical benefits that a good risk management system contributes to corporate management and continuation, if properly designed it can also make an enormous value contribution to compliance with regulatory requirements, in the sense of trustworthy corporate management – known as good governance in English.
In order to take these important tasks into account, the Institut der Wirtschaftsprüfer in Deutschland e.V. (IDW) has adopted or expanded IDW PS 340 n.F. on the audit of the early risk detection system.
THE FOLLOWING FOCAL POINTS, AMONG OTHERS, ARE TAKEN INTO ACCOUNT IN THE NEW VERSION:
- Specification of the basic elements of an early risk detection system on the basis of the basic elements developed for the establishment and auditing of risk management and compliance management systems (see IDW PS 980 and IDW PS 981).
- Highlighting the need for a company with regard to risk-bearing capacity and risk aggregation.
- The derivation of “net risks” via measures and thus risk management as part of the basic elements of a risk early warning system to be audited.
- Clarification of the company’s documentation obligations, taking into account the case law that has been handed down in the meantime.
With our CRISAM® methodology and Risk Management Software, you can face this scrutiny calmly and at the same time increase the value contribution of your risk management system and improve the informative value of corporate planning.
>> CRISAM® IS A STANDARD SOFTWARE THAT IS CHARACTERIZED BY ITS FLEXIBLE CONFIGURATION OPTIONS AND CAN BE ADAPTED TO A WIDE VARIETY OF COMPANY STRUCTURES AND PROCESSES WITH LITTLE EFFORT. ALL NECESSARY CONTENT, SUCH AS EVALUATION AND REPORTING OPTIONS, E.G. FOR COMPLIANCE WITH IDW PS 340 N.F., IS ALREADY INCLUDED. <<
WE ARE Here FOR YOU
Let our experts advise you or visit our webinar on the topic “With CRISAM® calmly through the IDW PS 340 audit” (in German only) with our CRISAM® experts and managing directors of CALPANA business consulting Deutschland GmbH Tim-Benjamin Bohmfalk and Andreas Schmitz.
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