A Business Risk Assessment (BRA) is a critical component of effective governance and compliance with the Financial Intelligence and Anti-Money Laudering Act and Financial Intelligence and Anti-Money Laundering Regulations. An effective BRA not only satisfies the regulator, but also supports your firm to proactively identify and address risks before they crystallise. A BRA also helps senior management to set strategies, policies, and procedures that mitigate identified risks and make informed decisions when allocating resources or prioritising high-risk areas.
An effective BRA involves:
Risk identification: Evaluating potential threats across operational, financial, and strategic areas.
Risk analysis: Assessing the likelihood and impact of identified risks, enabling prioritisation.
Mitigation plans: Developing actionable plans to minimise or manage risks.
Board reporting: Summarising findings and recommendations in a clear, concise report for the board to digest and assess
Our comprehensive Business Risk Assessments
We can deliver assessments tailored to your organisation’s size, scope and ambition.
Annual BRA conduct and reporting
An interview with senior management to identify and assess risks. Preparation and submission of a detailed BRA report to your board of directors, ensuring full compliance with Mauritian regulations.
Template update and testing
Annual review and enhancement of your BRA template to ensure it reflects regulatory changes and remains practical and effective.
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