On Compliance podcast: What effective risk management looks like

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Confronted with an abundance of compliance deadlines such as GDPR and MTD, it is essential for accountants in practice to have a risk management strategy to comply with these legislations.

In these uncertain times, having a plan to reduce risk makes sense to secure the long-term survival of your firm.

Joining the On Compliance podcast to explain their firms approach towards risk management are two growth-focused accountants: Lucy Cohen is the co-founder and commercial director of Mazuma Accountants; and also on hand to give his view is Olly Evans, who is the director of Evans and partners.

With the shadow of GDPR still looming large, and not least the unknown commodity known as Brexit, Cohen and Evans discussed how they went about understanding their strengths and weaknesses and how their findings fed into their growth and risk management plans.

Over the course of this episode, Cohen and Evans discuss:

  • Why risk management is important for their firms
  • How they’ve made risk management part of the culture of their firms
  • How they apply risk management to other areas such as marketing and recruitment
  • Their risk management processes when it comes to GDPR and self assessment season
  • Whether you can apply risk management to the unpredictable like Brexit
  • And much, much more.

Show notes:

Find out more about Thomson Reuters and how they can help you with your compliance issues by visiting their website.

To listen to the show click the play icon in the box below or at the top of this article, visit our Soundcloud page or subscribe wherever you get your podcasts.

About Richard Hattersley

Richard Hattersley

Richard is AccountingWEB's Practice Editor. If you have any comments or suggestions for us get in touch.

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