Understanding business risks and risk advisory
Every business comes with risk. In fact, one can go to the extent of saying that businesses are coupled with risk. It is an inevitable truth of running a business. The best way forward, given this situation is to be prepared to face risks, both that are expected and unexpected. It is for this reason that many businesses avail the services of risk advisory firms in Delhi . Some of the best CA firms in Delhi also offer risk advisory in services. What are the types of business risks? Business risks can be generally classified into five types- strategic risk, compliance risk, operational risk, financial risk and reputational risks. Strategic risk refers to when the business strategy adopted by a company loses its effectiveness and thus proves risky. Constant consultation with risk advisory firms in Delhi can help avoid such risks. Compliance risks refers to the risk of being penalized as per law for non-compliance. With ever-changing laws and regulations, availing the services of the