1SecureAudit | FAQs

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What is 1SecureAudit?

An Operational Risk Management Solutions and Business Audit firm. We design, deliver and transfer a combination of proven risk methodologies, customized software, business audit and forensic services.

This helps our clients maintain regulatory compliance, increase employee awareness and secure the continuity of the supply-chain and reputation of their enterprises. We are practitioners and experts in strategy execution of Enterprise Risk Management; "The creation of shareholder value through the integrated management of risk."

1SecureAudit directs clients in the transfer of business management practices to prevent, mitigate, and recover from a disruptive (crisis) event in a manner consistent with their strategic objectives.

What is Operational Risk?

Operational risk is defined as the risk of loss resulting from inadequate or failed processes, people, and systems or from external events. These risks are further defined as follows:

Process risk – breakdown in established processes, failure to follow processes or inadequate process mapping within business lines.

People risk – management failure, organizational structure or other human failures, which may be exacerbated by poor training, inadequate controls, poor staffing resources, or other factors.

Systems risk – disruption and outright system failures in both internal and outsourced operations.

External event risk – natural disasters, terrorism, and vandalism.

The definition includes
Legal risk, which is the risk of loss resulting from failure to comply with laws as well as prudent ethical standards and contractual obligations. It also includes the exposure to litigation from all aspects of an institution’s activities.

Why was it founded?

1SecureAudit initially grew out of the needs of the corporate world to respond to and manage threats to physical and information assets from both internal and external attackers. 1SecureAudit today provides operational risk management solutions and business audit services, at home and abroad, to many of America’s top companies and to a growing number of international clients. Our solutions are provided in systematic services designed to be Proactive, Preventive, Relevant and Supportive.

What special know-how does 1SecureAudit have?

Our flagship solution is OREA. 1SecureAudit Operational Risk Enterprise Architecture (OREA) System and Tools have been designed to guide you successfully through the industry's new regulatory and homeland security reality. OREA enables enterprises to establish a cohesive framework for enterprise risk management in their organizations. OREA is a management system supported by an enterprise software platform that enables organizations to automatically collect, manage and distribute real-time operational risk content. This includes homeland security alerts, business continuity policies, eDiscovery, emergency response procedures, control standards, facilities and IT assets, baselines, threats/vulnerabilities and delivers education and awareness programs to customers, employees and partners.

What is the market size and growth rate for this segment?

The market potential for 1SecureAudit solutions is commensurate with the Governance, Risk and Compliance (GRC) market size and growth rates being discussed by former Forrester Research Analyst and GRC subject matter expert, Michael Rasmussen. In March 2009, he estimated the size of the total GRC market, as well as the proportion of this market that was currently addressable. He estimated the total GRC market size as roughly $30B, including such areas as: policy & procedure management, control & audit management, risk management, loss & investigations management, and continuous control monitoring. Correctly, he did not include the broader and related area of security, since this would skew the numbers greatly.

Michael estimates that the current market size for enterprise GRC solutions is around $2B, and when you include the related, niche areas, the market expands to around $6B. This, he defines, as the addressable GRC market. He defines the difference between the total market size and the addressable market as the unaddressed GRC market, which is to say the potential market for people who need to manage risk and compliance, but who are currently using their own methods to do this.

How does 1SecureAudit work?

We utilize a team of multidisciplinary practitioners to provide relevant advice, solutions and knowledge transfer to public and private executives. Our Practice Directors are experts in enterprise risk management, governance strategy, regulatory compliance, digital forensics, continuity of operations, business crisis communications, complex legal matters, accounting and finance, information technology, corporate security and investigations. Each project team is assembled with the correct intellectual assets and experience to efficiently and rapidly address each of our clients unique requirements. Our due diligence and unobtrusive approach is welcomed by organizations that are looking for answers to highly complex business issues. Today; not weeks from now.

Why do you need 1SecureAudit?

In light of new global terrorist threats, government regulation, increasing investor scrutiny, continuous litigation and changing response to risk, the stakes for public companies and complex organizations have never been more extreme. The solutions never more challenging. Today more than ever, it is vital that senior executives and board members have all the information, tools and answers they need to fulfill their fiduciary duties. 1SecureAudit is your single firm to orchestrate your operational risk management needs across people, processes, systems and external events.