Risk is objective and inevitable factor in any economic activity. Therefore, the management is obliged not to avoid risk but manage it and thereby to increase the company efficiency.

"VEDAudit» Ltd. will help its clients to identify potential risks at a certain stage of the entity activity and offer available options with the purpose of their managing or painless circumvention of these risks.

Risk management refers to the processes associated with identification, risk analysis and making decision, that include maximization of positive outcomes and minimization of the negative ones of the risk events.

The risk management is carried out by "VEDAudit" specialists in two main directions:

• prevention and risk restriction which includes preliminary examination of the decision to be made variants  and estimation of relevant risk levels; 
• the use of various guarantee types, risk diversification, control systems development, etc .;
• loss replacement which provides compensation for damage through creation of special insurance and reserve funds, risk insurance in insurance agencies.

For risk assessment it is important to identify its main component, such as probability (assessment of probability degree of a certain result including predictable repeatability) and influence (in case if the predictable result may occur).

For risk management one must be aware of the way the risk management process will be carried out, taking into consideration available variants (redirect risk, treat to it tolerantly, restrict and etc.). In recent times, they’ve been speaking more and more often about the role of staff in risk management because all actions in this area are carried out by people, but both untrained and unprepared appropriately staff is unable to analyze critical situations competently, to create and realize strategies regulated by them.

"VEDAudit" Ltd. has experience in risk identification for the commercial organizations activities. Our company specialists will help to apply the methods of compensating effect and risk situations neutralization.

Prevalent risks:

• The uniqueness of competitive advantage
• Complicated geographical location
• The sources of raw materials supply
• Its own solvency
• The instability of demand
• Taxes increase
• Reducing of consumers solvency
• Rising prices for raw materials, transportation
• Shortage or lack of skilled staff.

This is an incomplete list of possible risks, which should always be kept in mind. Actually, list of risk situations for any commercial enterprise varies individually. But anyway, there are universal methods of risk reduction available:

• Raising of awareness level
• Limiting of financial expenses
• Insurance
• Diversification.