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Demonstrate Compliance with IDW PS 340 Audit Standard
Corporater Business Management Platform
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Risk Management Solution for IDW PS 340 n.F.
Corporater Risk Management solution for IDW PS 340 n.F. audit standard is a digital tool for the early identification, analysis, and management of risk. It enables organizations to implement effective measures following § 91 (2) AktG for the early recognition of risk developments that could jeopardize the company’s continued existence, and to demonstrate compliance with the IDW PS 340 n.F. – audit standard issued by the Institute of Auditors (IDW – Institut der Wirtschaftsprüfer).
Key Benefits
Cultivate a risk-aware culture by communicating identified risks across your organization.
Enable your internal audit department to regularly identify and support risky developments in the company.
Evaluate risks through risk aggregation using built-in simulation methods (including Monte Carlo simulation).
Download Risk Management for IDW PS 340 n.F. Solution Brief
Establish a solid risk management governance to protect your business from risk and threats, demonstrate compliance, and ensure your company’s continued existence.
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Key Capabilities
Get a complete overview of risks, their potential impact, options for risk mitigation, and more. Use risk heat maps and color-coded charts to have increased visibility into your risk profile.
Assess, evaluate, respond, treat, and report your risks. Corporater supports quantitative, qualitative and semi-quantitative risk assessments, including Monte Carlo simulation.
Keep your organization prepared for the unexpected with Corporater risk planning and early 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).
Build and maintain a centralized risk register (risk inventory) to have a complete and current overview of risks across your organization.
Generate custom risk reports and submit them through review/approval process. Include visual elements such as graphs and risk heat maps.
