IDW PS 340 & IDW PS 980 Auditing standards

Are you looking for a standardized, largely automated process that allows you to design your risk early warning system quickly and easily?

With antares RiMIS® you will never again have to worry about legal omissions or labor-intensive preparation processes in your risk management.

You can look forward to intelligent risk management software that covers the entire process and guides you through all the challenges.

Most of the routine tasks involved, such as risk analysis, compilation of all relevant documents or coordination of audit preparation, can be accelerated or even automated - freeing up valuable time for your core tasks.

With antares RiMIS®, you can proactively drive compliance with the IDW PS 340 and IDW PS 980 auditing standards without getting lost in the process.

Best of all, if you have special requirements such as a special dashboard or customizable audit workflows for your risk management software, we can easily implement these functional enhancements for you.

• Step 1: Create master data
• Step 2: Create a risk portfolio
  
• Step 3: Automated recording, evaluation and optimization of risk management processes
  

Step 1: Free consultation and quotation
In a free initial consultation, we will introduce you to antares RiMIS® and its many configuration options. We will also take a look at your individual situation and advise you on which configuration makes the most sense in your case. On this basis, we will prepare an offer for the implementation, use and customization of the software to your needs.

Step 2: Workshop & customizing
If you decide on antares RiMIS®, we invite you to a workshop in which we go through your specific requirements and create a detailed concept for your individual software configuration.

Step 3: Technical implementation
Our development team implements the plans agreed in the workshop and integrates your individual functional requirements.

Step 4: Optimize your risk management with antares RiMIS®
We implement your new system in your company on a previously agreed fixed date. This also includes comprehensive training for your team. From now on, you can optimize your risk management processes with antares RiMIS® and save valuable time every day.

Yes, I would like support

We understand that you are concerned about the complexity and implementation effort involved in switching to new software.

In most companies, risk management is a time-critical issue. That's why a software implementation should not cause you even more work than you already have.

For this reason, we have developed antares RiMIS® with a flexible technology platform, which means that you receive ready-to-use software that we can easily and quickly adapt to your needs.

To ensure a smooth changeover, we initiate all steps in advance and train you and your colleagues to use your new solution efficiently and effectively.

antares RiMIS® will make your day-to-day work easier forever because you can now save time and automate all the time-consuming steps involved in checking your early risk detection system.

Plus: Your risk management system guides you step by step through this otherwise complicated process. This ensures that all requirements of the IDW PS 340 and IDW PS 980 auditing standards are met.

This keeps your company on the safe side and gives you valuable time for other important tasks. Does that sound promising?

Then arrange your free initial consultation now, in which we will show you how to design a legally compliant early risk detection system with the help of antares RiMIS®.

1) The determination of the F (RTF) by the Board of Management is particularly emphasized. The RBC is the "maximum amount of risk that the company can bear without endangering its continued existence. Only after determining the risk-bearing capacity and comparing it with the overall risk position can it be assessed whether there is a threat to the company as a going concern. In addition, it should be borne in mind that the loss of the operating license may also jeopardize the company's continued existence.

2) In the course of the Group-wide risk assessment, particular attention must be paid to risks which, when viewed in isolation, do not pose a threat to the company as a going concern, but which, when aggregated with other risks, pose a threat to the company as a going concern. The assessment of whether and to what extent a risk poses a threat to the company as a going concern must be carried out from the perspective of the parent company. Subsidiaries, commercial agencies and shareholdings are to be included in the risk identification process. The identified risks are aggregated in a holistic overall risk inventory . The currently accepted method for risk aggregation is the Monte Carlo simulation. Here, dependencies between opportunities and risks(correlations) must be taken into account.

3) Appropriate measures are to be taken at an early stage to counteract developments that could jeopardize the continued existence of the Company as a going concern. The term "early" also includes the immediate forwarding of urgent risks (ad hoc risks).

4) The risk assessment shall be documented in such a comprehensive manner that the gross value, the effect of the measures and the resulting net value of the risk are presented accordingly. In addition, so-called black swan risks, i.e. risks with a very high impact and a very low probability of occurrence, should also be considered.

5) Furthermore, sufficient resources should be made available for the implementation of measures. Measures include the early identification, assessment, control and monitoring of developments that pose a threat to the company as a going concern. Risk management (risk avoidance, risk reduction, risk sharing or risk transfer) is emphasized here.