Demonstrate compliance with IDW PS 340 audit standard

Corporater Risk Management Solution for IDW PS 340 n.F. is a digital tool that enables you to implement measures and demonstrate compliance with IDW PS 340 n.F.
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).


Define risk areas that could pose a threat to the company’s existence across all departments, levels, and processes and visualize them on role-based risk dashboards. Define and map out your risk management processes, roles, and responsibilities. Set and monitor your organization’s risk-bearing capacity (Risikotragfähigkeit), assign risk owners, and track the completion of assigned tasks and risk treatment activities across your organization.


The solution works as an integrated system that allows users to detect, analyse, evaluate, communicate, and conduct frequent risk assessments while also putting in place tighter risk controls.


It comprises a risk early warning system (Risikofrüherkennungssystem) that is designed for risk detection, risk assessment, and risk communication. The system also includes Monte Carlo simulation functionality, which allows CROs and risk managers to evaluate the chance of loss using the Value at Risk technique, both on a per-risk basis and in aggregated/consolidated scenarios.


Corporater Risk Management solution for the IDW PS 340 n.F. audit standard can be used alone or in conjunction with other solutions to create a comprehensive integrated risk management program.

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Key Benefits

Foster a risk-intelligent culture

Cultivate a risk-aware culture by communicating identified risks across your organization.

Establish risk monitoring system

Enable your internal audit department to regularly identify and support risky developments in the company.

Evaluate risks through risk aggregation and simulation

Evaluate risks through risk aggregation using built-in simulation methods (including Monte Carlo simulation).

Key Features


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


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).


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


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.