PNG Business

Growth changes a business’s risk profile. A larger contract may increase revenue while also increasing working-capital needs, customer concentration and delivery exposure. Delegation can improve speed while creating new approval and information risks. New technology can improve efficiency while increasing cyber and continuity dependencies. Risk oversight helps leaders see these trade-offs early and decide which […]

Controls that worked when an owner approved every transaction may become unreliable as a business grows. More employees, suppliers, customers and locations create more hand-offs and more opportunities for mistakes, delays or unauthorised activity. This does not mean misconduct is occurring. It means the control environment should be reviewed as responsibilities and transaction volumes change.