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Always document your business risks.
Document and manage the risk for your entire organization in the Impero platform. With a centralized approach, it’s easier to get an overview of your accepted, mitigated and avoided risks.
It’s easy to document and manage risk in the Impero Risk Module
Set up your Risk Directory
Document all known risks in the Risk Directory for centralized risk management of your organization. Set up both global and local risks, and assign objectives and financial statement assertions.
Manage all of your entities
Set up all your business entities, so that you can allocate your documented risks to relevant entities. Risks can be assigned globally to multiple or locally to your legal entities.
Visualize in a Risk Map
Assess your organization’s risks and visualize the actual versus inherent risks in a Risk Map. Easily filter or search based on risk title, process or entity for a full visual overview.
“With Impero, we have been able to make better decisions and be more aware of our risk environment.”
Connecting your risk & internal controls
Risk documentation is just the first step in your compliance journey. Use Impero to connect each documented risk to a mitigating control. This clear, in-tool linkage ensures a structured and methodical approach to risk management.
Access your risk history
Understanding your organization’s full risk landscape takes time. With Impero, you can utilize the Risk History function to view a risk assessment at a specific point in time or compare two periods in time.
Combined with the Reporting Module, you’ll get a full overview of how mitigating controls stack up against your organization’s residual risk.
Try the Risk Module in Impero
Get a guided tour of how you can set up risk directories and proactively work with risk management in the Impero platform. Try our interactive tour of the Risk Module now.
Risk Module - FAQs
Get answers to the most common feature and functionality questions our customers ask us about the Risk Module in the Impero platform.
What level of detail can I document in the Risk Module?
Add as many details as you want! It is important that you can describe risks in as much detail as you deem necessary.
Our Risk Module lets you add as many comments, drop down fields, checklists, radio button, number and text input fields as you want.
Can I connect a control with the respective risk that it addresses?
Yes. Connect one or more mitigating controls to a specific risk. You can also add the percentage of coverage that each control provides for the given risk.
Can I filter for specific risks in the Risk Map and/or Risk Directory?
Absolutely. Use the built-in search bar to filter based on the risk characteristics that you have documented. For example, overall risk score, impact or likelihood.
Is residual risk updated as internal controls are completed in Impero?
We do not update the residual risk automatically based on control completion. However, you can easily track control progress in our Reporting Module. We believe it is important that you revisit and update your risk assessment on a regular basis, and adjust the residual risk based on what you deem the effectiveness of the control measures to be for your organization.
How many risk factors can be used in calculating an overall risk score?
Ensuring accurate risk documentation is about adding as much detail as needed. In Impero, you can add as many risk factors as you deem necessary to calculate an overall risk score. Just note that you’ll need to prepare your preferred formula to us. We have customers that calculate this formula themselves based on organization standards, as well as customers that work with a partner to determine the best risk score formula for their business.
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