Risk consulting is a relatively a new area of practice. For eg., in case of a bank, there are various risks associated with the business, such as increase of the Dollar rate, or launch of a new product by a competitor bank, or the changes in the economy, or the liquidity position in the general economy. Etc.
All these risks, will affect the business of the bank. Hence, the bank needs to be prepared to somewhat foresee the future and plan for these contingencies. For this, a risk management consulting firm is appointed, which will advice the company as to the broad risks it carries and the measures to mitigate them
CAclubindia
