Risk Consulting
It aims to assist organizations in identifying potential risks, assessing them, and developing effective strategies to address and reduce their impact. These consultations may cover areas such as financial, operational, legal, and technological risks.
What the service covers
- Building the risk register: identifying risks across operations, finance, compliance and reporting.
- Assessing impact and likelihood, and the strength of existing controls against each risk.
- Designing the risk management framework: ownership, escalation thresholds, and reporting lines to the board.
- Control gap analysis and the design of compensating controls.
- Regulatory compliance risk across zakat and tax, labour, and data protection obligations.
- Business continuity and concentration risk in customers, suppliers and key personnel.
Where risk actually bites in Saudi businesses
In practice the exposures that surface are rarely exotic. They are concrete and recurring:
- Concentration of authority — one person recording, approving and executing payments.
- Statutory deadlines missed because no one owns the compliance calendar: returns, filings, assembly meetings.
- Customer concentration — a single client representing a large share of revenue, with no plan for their loss.
- Undocumented related party transactions that become a problem on audit, valuation or dispute.
- Key person dependency, where one individual holds knowledge or relationships that are not documented anywhere.
- Accumulated losses approaching statutory thresholds without anyone tracking the ratio during the year.
A register that does not name these in the entity’s own terms is a formality. The value is in identifying which of them are live for you, and what control actually reduces them.
How we work
- Understanding the business and how decisions and money actually move through it.
- Identifying risks with the people who run the processes, not only with management.
- Assessing impact and likelihood, and testing whether the controls claimed to exist actually operate.
- Prioritising — because treating every risk equally means treating none of them.
- Designing responses: accept, reduce, transfer or avoid, each with an owner and a date.
- Monitoring through periodic reporting that shows whether exposure is moving.
What you receive
- A risk register in the entity’s own language, ranked and owned.
- A control gap analysis with practical remediation.
- A risk management framework document and reporting template.
- A compliance calendar covering the statutory deadlines that apply to you.
Related detailed guides
- Embezzlement and financial fraud — the controls that prevent it
- Accumulated losses reaching half of capital
- ZATCA fines cancellation initiative 2026
Frequently asked questions
How does this differ from internal audit?
Risk consulting identifies and assesses exposures and designs the controls that address them. Internal audit independently tests whether those controls operate. One designs; the other verifies.
Is this only for large companies?
No. Smaller businesses typically carry higher concentration risk — in authority, in customers and in key people — precisely because they have fewer people.
Do you implement the controls as well?
We design them and support implementation. Operating them remains with the business, so that independence is preserved for any assurance work.