[Verse 1]
Every business faces danger in the night
Identify the threats that keep you up at night
Market shifts and cyber attacks at your door
Operational failures, reputation wars
Assess the likelihood and impact too
Rate them high to low, that's what we do
[Chorus]
Risk management, four responses clear
Avoid, reduce, share, accept - keep them near
I-A-R-A, that's the way we go
Identify, assess, respond, accept the flow
Enterprise wide or operational scope
Managing uncertainty gives us hope
[Verse 2]
Enterprise risk looks at strategy and goals
While operational keeps the daily roles
Risk appetite tells us how much we'll take
Risk tolerance shows where we draw the brake
Board sets the appetite from the top
Management sets tolerance where risks stop
[Chorus]
Risk management, four responses clear
Avoid, reduce, share, accept - keep them near
I-A-R-A, that's the way we go
Identify, assess, respond, accept the flow
Enterprise wide or operational scope
Managing uncertainty gives us hope
[Bridge]
Insurance transfers risk away
Contracts spread the cost we pay
Business continuity plans
Keep us running when crisis lands
Fraud triangle has three sides
Opportunity, pressure, rationalization hides
[Verse 3]
Opportunity opens up the door
Pressure pushes till they can't ignore
Rationalization makes it seem okay
Three together lead good folks astray
Segregation stops the chance
Internal controls enhance our stance
[Chorus]
Risk management, four responses clear
Avoid, reduce, share, accept - keep them near
I-A-R-A, that's the way we go
Identify, assess, respond, accept the flow
Enterprise wide or operational scope
Managing uncertainty gives us hope
[Outro]
From the boardroom to the floor below
Risk management helps our business grow
Plan for failure, hope for success
That's how CPAs handle stress