Internal auditors play the critical role of being the third line of defense. When risk owners and management do not identify risk or adequately mitigate the risk, it is imperative for the internal auditors to provide independent and objective insight on risk. The audit management solutions market caters to this need by automating internal audit operations through its primary and secondary offerings. Audit management solutions help manage the complexity of the auditor's role, not the organization's risk.
Gartner defines Integrated risk management (IRM) as the combined technology, processes and data that serves to fulfill the objective of enabling the simplification, automation and integration of strategic, operational and IT risk management across an organization.
Risk management is a continuous and integrated process that supports and informs the creation of an entity's overall business strategy. It provides a mechanism for ensuring that important business processes and behaviors remain within the entity's overall risk appetite and adhere to the relevant policies, procedures, laws and regulations. The RM process is a strategic and holistic treatment of all strategic, operational, financial reporting, and legal/compliance risks, including the IT and information management components of those risks. Gartner defines risk management (RM) consulting services as the bundle of expert-driven consulting services directed at helping enterprises mitigate the impact of uncertainty on business performance. Management consulting firms offer a variety of RM services
Security consulting firms are advisory and consulting services (see "Definition: Cybersecurity" ) related to information and IT security design, evaluation and recommendations. These services are procured by various stakeholders in an organization, including boards of directors, CEOs, chief risk officers (CROs), chief information security officers (CISOs), chief information officers (CIOs), and other business and IT leaders for the purpose of obtaining and ensuring acceptable risk levels for a specific client organization.