When considering risks to cover in your audit plan, take the time to assess ESG risks for your organization. ESG risks will continue to evolve, and our ability to measure the impact of these risks will mature. While some may think these risks are covered under compliance or reputation risks, ESG captures a unique set of risks that supersede the scope of both.
When planning your environmental, social, and governance risk assessment, consider building the library of risks and controls specific to your organization into a risk management application. Establishing effective risk management capabilities is an integral part of driving better business decisions and is critical to assist with the maturity growth of your team. Find out how AuditBoard can help you manage, automate, and streamline your risk management program, and help you turn your ESG risks into opportunities to gain a competitive advantage.