Sustainable business growth requires a systematic and effective approach to risk management and internal controls. Recently, Ms. Loretta Lee, Partner of WALL CPA Limited, was invited by SME Lab to participate in the newly launched short video series, “60-Second Professional Insights.” In this segment, she shared her expert views and practical guidance on how small and medium-sized enterprises (SMEs) can identify, manage, and mitigate operational risks.
The video was titled as “Do you have risk management and internal control systems in place?” Ms. Lee highlighted the common challenges faced by SMEs in their daily operations, ranging from the lack of structured cost control and revenue enhancement strategies to vulnerabilities in asset management, invoicing, and payment processes. She noted that without proper controls, these issues can significantly impact a company’s operational efficiency and financial stability.
Ms. Lee emphasized that risk management is fundamentally about how a company responds to uncertainty—whether by accepting, mitigating, transferring, or avoiding risk. This response reflects not only operational policies but also a company’s culture and risk appetite. She further pointed out that internal control systems should be built in alignment with a company’s strategic goals and day-to-day operations, with clearly defined checkpoints to ensure consistent and effective execution.
(Click to Watch the Video)
WALL has long provided SMEs with one-stop solutions in audit, tax, and business advisory services. Our team supports clients in navigating complex market environments by helping them identify risks, improve operational efficiency, and build resilience. Feel free to contact us to learn how a structured risk management and internal control framework can help drive your business forward with confidence.
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Partner, Business Advisory Services
Email: loretta.lee@wallcpa.com.hk