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ESTABLISH A SOLID RISK MANAGEMENT GOVERNANCE

Demonstrate compliance with IDW PS 340 audit standard

Corporater Risk Management solution for IDW PS 340 n.F. audit standard is a digital tool for early identification, analysis, and management of risk.
risk management solution for IDW PS 340
Risk Management Solution For IDW PS 340 n.F.

Corporater enables organizations to implement effective measures following § 91 (2) AktG for the early recognition of risk developments and demonstrate compliance with the IDW PS 340 n.F. – audit standard issued by the Institute of Auditors (IDW – Institut der Wirtschaftsprüfer).

Risikofrüherkennungssystem: Includes an early risk warning system designed for risk identification, risk assessment, and risk
communication.

Monte Carlo simulation: Estimate the probability for the loss according to the Value at Risk methodology – both on the individual risk level and on aggregated/consolidated scenarios.

Automate risk reporting: Create a standardized reporting process based on concrete responsibilities, periodicity, thresholds, and reporting formats.

risk management solution for IDW PS 340
Key Features

RISK DASHBOARDS
Create custom risk dashboards to have a complete overview of risks, their potential impact, options for risk mitigation, and more.

RISK PLANNING
Keep your organization prepared for the unexpected with Corporater risk planning and early risk identification.

RISK IDENTIFICATION
Continuously identify risks in various ways — from forms, data integrations, or user input — and record them in a centralized risk register (risk inventory).

RISK MONITORING
Monitor identified, residual and secondary risks, take corrective action, and measure the effectiveness of your response.

RISK ASSESSMENTS
Analyze, evaluate, and respond to your risks. Corporater supports quantitative, qualitative, and semi-quantitative risk assessments.

RISK REGISTER
Analyze, rank, and continuously quantify identified risks based on their probability of occurrence and quantitative effects (e.g., amount of
loss). Capture qualitative and semi-quantitative (ranges) consequences and opportunities in the same system.

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risk management solution for IDW PS 340
For an overview of the benefits and features of Corporater Risk Management Solution for IDW PS 340 n.F., download the solution brief.
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