Plum Concepts & Solutions

Consulting Methodology:

Plum Concepts & Solutions methodology uses the following underlying set of principles that link the effective management of risk to the achievement of sound corporate governance —

Risk is part of each objective and multi layered, as are objectives - truly integrates risk management.
Risk treatments are also controls and strategies.
Any variance from expected results indicates that the original strategies and controls are ineffective or the risks have changed - risk reporting is part of performance reporting.
Risk management develops controls to provide reasonable assurance that objectives will be achieved within an acceptable level of residual risk.
Corporate governance is aimed at setting and achieving objectives - controls provide governance.

These principles underpin a Control Assurance Plan that divides an organisation into five Control Elements on the basis of control responsibilities and accountabilities — Planning, Governing Body, Organisation, Management Assurance, Independent Assurance — linked by an information system.

Standard management practices (Control Activities) address the Control Criteria of purpose, capability, commitment, monitoring and learning, and information in each control Element. The nature of the control activities to be applied in addressing the control criteria is determined by the responsibilities and accountabilities in each Control Element.

Plum Concepts & Solutions' methodology is uncomplicated and cost effective in that it refines and aligns current business practices. Improvements can be achieved using existing resources and within existing bureaucracy.

Control Elements:

Planning - the core control element setting the purpose for the organisation and its divisions in the form of linked corporate plans and operational plans underpinned by sound risk management practices – provides organisational, divisional and personal purpose.

Board - shareholder representatives accountable for organisational performance to key stakeholders – sets organisational direction, develops broad policy and supervises management.

Organisation - CEO, senior managers and employees – responsible and accountable for the delivery of organisational outputs in line with the Board’s corporate objective.

Independent Assurance - includes elements such as internal and external audit, and Board committees e.g. audit, risk and compliance committees - provides risk management and control assurance to the Board independent of management and supports the Board’s accountability.

Management Assurance - management’s performance/compliance reporting, including the associated risk and control assurance to the Board – supports management’s accountability.

Plum Concepts & Solutions ®

Corporate Governance
Risk Management
Consulting

Consulting Methodology: