Weighing the ROI of Enterprise Independence and Risk Management Systems

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For public accounting firms, an enterprise independence and risk system has moved from a “nice to have” to a “need”. United States, European Union, and United Kingdom regulatory environments, increased private equity investment, M&A activity, and deepening reliance on technology to drive efficiency all apply pressure on firms to make this decision.

What do we mean by an independence and risk management system? Independence and risk management encapsulates conflict checking, independence checking, business relationship checking, and client acceptance within a firm.

Quantifying the return on investment (ROI) for an enterprise independence and risk system is difficult. Similar to investing in a cybersecurity system or investing in the general wellness of your employees, the realized return is obscured through multiple abstracting layers. Tracing results back to give credit to the initial investment is not a black and white exercise, but key areas weighed on a balance of positive or negative return lead us to a clear answer.

In this paper we weigh the ROI of an independence and risk system across 5 criteria: