Internal control

To be successful, a business must be able to withstand the external risks present in its environment. These can become threats if they influence or condition the operations and development of the business entity, which could lead them to become real dangers to its own success.

A company faces many risks that come from its external environment and that influence its operation. These can be both potential threats and opportunities for growth in the right circumstances, depending on what is needed at the time.

The proper functioning of the Corporate Governance will allow you to identify and minimize any risk that may exist in your operations. This is crucial to ensure that a business can function properly with minimal impact from potential problems, such as fraud or corruption on the part of its executives or employees.

This can only happen through the constant practice of good Corporate Governance, which helps them to act quickly when faced with potential problems such as fraud or corruption from employees/executives outside the company, such as competitors.

Risk management is the process of understanding, analyzing and evaluating risks to help an organization minimize losses and maximize opportunities.

There are several factors to consider, such as identifying what could go wrong (risk assessment), calculating the probability of something happening (forecasting); set the price of the damages in case they occur; consider all potential outcomes when deciding whether to take action or not - this includes both direct effects on the people/organization directly involved and indirect ones.

Risk management strategies are the tactics you use to deal with risks and understand their potential consequences.

These plans should be included in a documented process for how your company or team will identify, address and document any risks as they arise, so that there is no situation where objectives cannot be achieved due solely to unforeseen circumstances.