Why choose Essential ERM?

Here is a step by step walk through of the comprehensive risk assessment process on the Auditrunner platform.

Register risks on processes with inherent residual and target risk assessments. Associate controls, add SWOT analysis

Define risk tolerance and risk appetite statements along with key risk and performance indicators.

Assign action plans to achieve target risk. Associate information assets and link standards and regulations

Comprehensive Risk Assessment
  • Associate risks with control points, accredited certification standards and governing regulations, along with information inventory assets. In line with ISO 31000 Accreditation.
  • Define Controls for any process of any department, with control description, control target, key control, control function, automation and frequency details. In line with COSO 2013 Framework.
  • Assign action plans to achieve target opportunity.

  • Associate information assets and link standards and regulations.

Compile Controls
  • Define controls on processes with detailed attributes, associate these with risks and opportunities.
  • Compile the questions that determine the effectiveness of the control.
  • Assign business units as control owners.
  • Register opportunities on processes with inherent residual and target opportunity assessments.
  • Associate enhancing controls, add SWOT analysis and Monte Carlo Simulations.
Heat Maps Functionality
  • Populate the heat map automatically.
  • Filter the heat map by department, process, risk level and others.
  • Consolidate multiple heat maps into a single one.
  • Create separate heat maps for different functions such as ERM, Quality Management, HSE and IT Risk Management
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