Comprehensive risk audit planning
Life sciences and healthcare companies face pressures and challenges that are unique from other industries. Almost every aspect of the business – from the safety and quality of commercial and sales to manufacturing and development – is affected by the driving forces of fear, uncertainty, and doubt that arise from:
- Complex regulatory and compliance requirements at country and cross-border level
- Emerging risks that are hard to identify, isolate and measure
- Varying expectations from health plans, healthcare providers, and regulators especially in regions such as APAC with variable healthcare systems
- Specialty markets that have increased patient needs and complex barriers to access
The price of non-compliance can be extreme from a financial perspective and can cause a loss in reputation as well. With continual disruption and uncertainty in the marketplace, even the best leaders can struggle to make informed decisions and provide direction to their organization.
Implementing a comprehensive audit plan can help alleviate these anxieties and concerns that affect management’s decision-making skills, and most notably, strengthen the internal controls necessary to allow life sciences companies to meet their strategic objectives and goals.
Risk audit approach and methodology
Baker Tilly’s life sciences and healthcare governance and risk professionals can help support your organization’s goals and objectives by addressing the unique risks associated with companies in the life sciences industry. Our team of industry-focused experts can help identify current and emerging risks now – so that we can help minimise tomorrow’s fears, uncertainties, and doubts. By moving past a checklist or one-size-fits-all approach, our team can develop a customised solution tailored to your organization’s unique situation, needs, and resource capabilities.
Check out the Baker Tilly audit approach
