Risk Services

As companies pivot more toward digital business models, exponentially more data is generated and shared among organizations, partners and customers. This digital information has become the lifeblood of the interconnected business ecosystem and is increasingly valuable to organizations and to skilled threat actors. Increasing digitisation also means companies are exposed to new digital vulnerabilities, making an effective approach to cybersecurity and privacy more important than ever.

We help our clients transform from value protectors to value creators by building trust, promoting resilience and enabling the business. We’re here to help you transform your organization and drive growth, while staying resilient and preparing for the unexpected.

Issues you may be facing

• How secure are you against threats relating to remote working?
• Are you aware of who has access to what resources in your ecosystem
• Which of your network systems (IP devices) are vulnerable to attack?
• Is your organization handling personal information, and is that information secure?
• Do you have security intelligence and real-time threat detection capabilities?
• Are you geared up to respond to a breach and crisis?
• How confident are your stakeholders in the organization’s cybersecurity posture and resilience?
• Have you considered cybersecurity risks relating to next gen and cloud technologies?

We help clients to understand data lifecycles to protect data, meet the privacy expectations of consumers, and comply with applicable privacy regulations. This translates into assisting clients with risk management and compliance in privacy regulations such as Tanzania Personal Data Protection Act, 2022 (PDPA) and General Data Protection Regulation (GDPR). We use a defined, holistic framework designed to enable organizations to leverage good practices that can be tailored to address their unique privacy vision and risk exposure. Our sub-offerings include risk analysis and data discovery, gap assessment and remediation roadmap, PDPA programme implementation, PDPA programme readiness, and ongoing programme operation and monitoring.

Governance and internal control have never been higher on the boardroom agenda as organizations face growing pressure from stakeholders to cultivate sustainable and responsible growth. 

Internal audit plays a critical role in the corporate governance framework and brings both a strategic and operational mindset to assisting the board by providing independent risk and control evaluation and consulting and advisory services that aim to:

• protect the business against risk
• inform strategic decision-making 
• improve overall performance and success.

Our internal audit approach can be tailored to the organization’s unique needs and industry landscape. Our key strength is that we not only ensure our clients gain access to our extensive experience and knowledge of leading practice, but also that we provide access to sector specialists who know their industries and technical risk areas. We embed a data-focused approach to bring true value to the organization.

Issues you may be facing

• A regulatory requirement for independent risk and control evaluations.
• The need for management to improve their awareness of risk and control.
• The need for more robust control environments to support your strategic, financial, compliance and operational objectives and overall organizational success.
• The need for strengthening the ‘tone at the top’ and embedding ethics and compliance within the organization.
• The need for sustainable economic or operational efficiencies together with balanced levels of control and risk oversight.
• The need for specialized input (subject matter experts) on key strategic projects.
• The need for in-house capacity supplementation, either locally or globally.

How we can add value

We adapt to individual organizations’ needs through sourcing relationships (outsourcing, co-sourcing and smart sourcing relationships), as well as the provision of ad-hoc services.

Our internal audit services add value through strategic support, innovation, knowledge transfer and strong resource support, which will bring our clients insight and greater risk and control evaluation and consulting capability and capacity.

Risk and control evaluations

• Assessment of the adequacy and effectiveness of controls to support operational or strategic objectives
• Auditing of Performance information / Auditing of predetermined objectives
• Combined assurance assistance and coordination
• ESG risk and control assessment 
• Improving the quality, productivity and value of in-house services
• Internal financial controls (SoX and the assessment, implementation and testing of internal financial control frameworks)
• Performance audits and value-for-money audits
• Project management quality and control 
• Quality evaluation reviews (IIA standards)
• Resourcing model
• Staff augmentation in respect of in-house functions
• Strategic initiatives and programme implementations 
• Technology and data assessments

Equipping our clients to make fact-based decisions across their value chain to increase overall performance while mitigating risks.

What is data and analytics?

At PwC, data is at the heart of everything we do. We have significant experience in all disciplines of data from collection, cleansing and management through to building analytical algorithms and visualization tools. However, the real power of data lies in creating actionable insight, and applying this insight to transform the organization. At PwC we believe that effective data and analytics comprises four key components, all underpinned by PwC’s industry expertise and experience.

Embedding data and analytics in everything we do

Executives know that the zettabytes of data generated at ever-increasing speed in our digitized world have created an urgent business analytics imperative. Organizations are tapping into increasingly sophisticated analytics techniques to improve opportunities for growth, innovation and competitive advantage. Applying analytics technologies, tools, techniques and talent can transform dry facts and figures into strategic insights that deliver intelligence in the moment. You can now solve specific and complex business problems on reliable intel, not gut-instinct. Equip your organization to make fact-based decisions across your value chain to increase overall performance, differentiation and profitable growth, while mitigating risks.