Depending on the Company’s budget, the process of risk assessment can be done in various phases and includes the following steps:
	Interviewing senior management and department heads in order to explain the process and determine both the structure of the organization and the degree of operational systems documentation available.
	Analyzing the results of the initial interviews and document review in order to determine areas of greatest priority.
	Meeting with top management to establish risk assessment phases and budgets.
	Designing confidential interview questionnaires for both management and support staff in the areas selected for study.
	Comparing and validating the information gathered and verifying inconsistencies of the various respondents’ replies.
	Creating flowcharts of the various functions as they are currently in place, based upon the updated questionnaires.
	Validating the process by reviewing and testing document flow.
	Creating a report to management documenting weaknesses, functional duplications and recommendations for corrective actions.
	Revising flowcharts and procedural write-ups, based upon actual implemented changes.
	Updating, on a periodic basis, the flowcharts and procedural write-ups to reflect operational and procedural changes.

For additional information please contact Sherwin Brook or Sheldon Weiner.