The term Risk Advisory is a service that is provided by professional service networks to assist clients to identify risk exposure, manage business risk, embedding robust Governance, risk management and Compliance requirements across clients processes and technologies. They can assist in integrating culture, processes and systems of a business to minimize risk. They provide support and guidance for organizations to help make decisions, support business objectives and to prevent loss, damage or harm to the business from cyber risk, operational risk, regulatory risk, reputation risk and forensic risk.
Typical providers of risk advisory services are the multinational professional service networks of PWC, BDO and Deloitte with experienced lawyers, risk consultants and advisors. They offer experienced teams in jurisdictions that offer a range of risk advisory services to businesses and organizations in both private and public sectors. They work to identify and respond to risk, and helping to manage and control risk through. internal audit, risk assurance, cyber security, technology and project assurance as well as contract assurance.