Risk Advisory Firms

1. Home About Us Industry Experience Insights Contact Us Career  Accounting Risk Advisory   Transaction Advisory  Strategic Services Indirect Tax   Direct Tax Audit and Assurance   RISK ADVISORY Risk Advisory Services In the realm of business, risk is an inherent factor, but with the guidance of premier risk consulting experts, it becomes a manageable force. By adeptly identifying and managing risks, organizations can unlock their full potential, amplify value creation, and safeguard the interests of stakeholders Our Key Risk Advisory Services           Internal Audit Ensuring regulatory compliance through thorough ?nancial scrutiny. Enterprise Risk Management, Risk Assessments Preparing for audits to meet regulatory requirements. Internal control Over Financial Reporting (ICOFR) Addressing and resolving audit ?ndings for compliance improvement. Corporate Governance Addressing and resolving audit ?ndings for compliance improvement. Entity Level Policies Addressing and resolving audit ?ndings for compliance improvement. Policies & Procedures (SOP & Process Flows) Addressing and resolving audit ?ndings for compliance improvement. Forensic Investigations Addressing and resolving audit ?ndings for compliance improvement. Business Health Check Assessment Addressing and resolving audit ?ndings for compliance improvement. Assets Tagging and Physical Veri?cation Services Addressing and resolving audit ?ndings for compliance improvement. Mystery Shopping Addressing and resolving audit ?ndings for compliance improvement. Internal Audit Internal audit is a process within an organization that is conducted by an independent and objective internal audit function. The purpose of internal audit is to provide assurance and consulting services to the organization. It involves evaluating and improving the e?ectiveness of the organization’s risk management, control, and governance processes. The key objectives of internal audit typically include: Assessing the reliability and integrity of ?nancial and operational information  Evaluating the effectiveness of internal controls  Monitoring compliance with laws and regulations  Assessing operational e?ciency and effectiveness  Detecting and preventing fraud  It’s important to note that the speci?c scope and focus of internal audit can vary depending on the organization and its industry. Enterprise Risk Management, Risk Assessments Enterprise Risk Management (ERM) is a holistic and comprehensive approach that organizations use to identify, assess, mitigate, and manage risks across the entire enterprise. It involves a systematic process of identifying and analyzing risks, determining their potential impact on the organization’s objectives, and developing strategies to manage and mitigate those risks e?ectively. Risk Identi?cation  Risk Assessment  Risk Evaluation  Risk Monitoring and Review  Integration with Decision-Making  Implementing ERM requires strong commitment from senior management and a supportive organizational culture. It involves e?ective communication and collaboration across all levels of the organization to ensure that risk management becomes embedded in day-to- day operations. ERM frameworks, such as the COSO ERM framework or ISO 31000, provide guidelines and best practices for organizations to establish and enhance their risk management processes. However, the speci?c approach to ERM may vary depending on the organization’s size, industry, and risk appetite. Internal control Over Financial Reporting (ICOFR) Internal control over ?nancial reporting (ICFR) refers to the systems, processes, and procedures implemented by an organization to ensure the reliability of its ?nancial statements and the e?ectiveness of its ?nancial reporting. The objective of ICFR is to provide reasonable assurance regarding the accuracy, completeness, and reliability of ?nancial information and to safeguard the organization’s assets. Control Environment  Risk Assessment  Control Activities  Information and Communication  Monitoring Activities  The assessment and testing of ICFR involve documenting and evaluating the design and implementation of controls, as well as testing the operating e?ectiveness of those controls. This is done to identify any control de?ciencies or weaknesses and take appropriate remedial actions. E?ective ICFR provides con?dence to stakeholders, such as investors, creditors, and regulators, that the ?nancial statements are reliable and trustworthy. It helps prevent and detect material misstatements or fraudulent activities, ultimately promoting transparency and accountability in ?nancial reporting. Corporate Governance Corporate governance refers to the system of rules, practices, and processes by which a company is directed, controlled, and managed. It encompasses the relationships between various stakeholders, such as shareholders, management, the board of directors, employees, and other parties, and outlines the framework for decision-making and accountability within the organization. The key principles and components of corporate governance include: Board of Directors  Shareholder Rights  Transparency and Disclosure  Ethical Conduct and Accountability  Risk Management  Board Independence and Composition  Legal and Regulatory Compliance  → → Legal and Regulatory Compliance  ✉ Get a Quote ✉ Get a Quote E?ective corporate governance promotes investor con?dence, enhances access to capital, and contributes to long-term sustainable growth. It helps align the interests of management, shareholders, and other stakeholders, reduces agency con?icts, and fosters a culture of accountability and responsible business practices. Various guidelines and codes of corporate governance, such as the OECD Principles of Corporate Governance and national governance codes, provide frameworks and best practices for companies to adopt.   Entity Level Policies Entity level policies, also known as corporate policies or enterprise-wide policies, are overarching policies that apply to an entire organization. These policies set the tone and provide guidance on key aspects of operations, conduct, and compliance across the entire entity. They de?ne the expectations, values, and standards that employees and stakeholders are required to uphold. Some common areas covered by entity level policies include: Code of Conduct/Ethics  Compliance  Information Security  Human Resources  Risk Management  Financial and Accounting  The speci?c policies implemented by an organization will depend on its industry, size, regulatory environment, and speci?c needs. Entity level policies are typically developed by management and approved by the board of directors. They are communicated to employees through various means, such as employee handbooks, intranet portals, training programs, and regular policy updates. Entity level policies serve as a framework for consistent decision-making, provide a basis for risk management, help foster a positive organizational culture, and demonstrate the organization’s commitment to ethical conduct, compliance, and best practices. Policies & Procedures (SOP & Process Flows) Standard Operating Procedures (SOPs) are detailed step-by-step instructions or guidelines that outline how speci?c tasks or processes should be carried out within an organization. They provide a standardized approach to ensure consistency, e?ciency, quality, and safety in the execution of routine operations. Key features of Standard Operating Procedures include: Purpose  Scope  Roles and Responsibilities  Step-by-Step Instructions  Document Control  SOPs help organizations achieve consistency, reduce errors, improve training, knowledge transfer, and facilitate continuous improvement. Creating e?ective SOPs involves collaboration among subject matter experts, process owners, and relevant stakeholders. It’s important to regularly review and update SOPs to re?ect changes in processes, technologies, regulations, or best practices. Additionally, SOPs should be communicated to employees through training sessions, manuals, and other appropriate channels to ensure understanding and adherence. Overall, SOPs provide a structured framework for organizations to ensure that tasks and processes are carried out in a consistent and e?cient manner, contributing to operational excellence and achieving desired outcomes. Forensic Investigations Forensic investigations refer to the systematic and scienti?c examination of evidence and facts to uncover information, determine the truth, and establish the basis for legal action. These investigations are typically conducted by specialized professionals known as forensic investigators or forensic experts. Key aspects of forensic investigations include the following: Collection and Preservation of Evidence  Crime Scene Investigation  Data Analysis and Examination  Forensic Accounting and Financial Investigations  Expert Testimony  Collaboration with Legal and Law Enforcement Authorities  Forensic investigations can be applied in various areas, including criminal investigations, civil litigation, corporate investigations, insurance fraud, intellectual property theft, cybersecurity incidents, and accident reconstruction. The process of forensic investigation requires adherence to legal and ethical standards, as well as scienti?c methodologies. Overall, forensic investigations play a critical role in uncovering evidence, establishing facts, and providing expert analysis in legal matters. They help to ensure fairness, justice, and accountability in various domains, ranging from criminal justice to corporate disputes. Business Health Check Assessment A business health check assessment is a comprehensive evaluation of the overall performance, strengths, weaknesses, and potential risks and opportunities within a business. It involves assessing various aspects of the organization, including its operations, ?nancial health, market position, human resources, strategy, and compliance with regulations. The purpose of a business health check assessment is to identify areas of improvement, mitigate risks, and develop strategies for long-term success. Key areas typically covered in a business health check assessment include: Financial Analysis  Operations and E?ciency  Cost Analysis  Revenue Analysis  The business health check assessment may involve a combination of data analysis, interviews with key stakeholders, surveys, benchmarking against industry peers, and a review of internal documentation and policies. The ?ndings and recommendations from the assessment can help the company prioritize areas for improvement, implement necessary changes, and develop a roadmap for future success. It’s important to note that a business health check assessment is typically tailored to the speci?c needs and goals of the organization. It can be conducted internally by the company’s management team or external consultants with expertise in business assessment and strategy. Assets Tagging and Physical Veri?cation Services Assets tagging and physical veri?cation services are processes conducted by organizations to systematically identify and verify their physical assets. This involves labeling or tagging each asset with a unique identi?er and conducting regular physical inspections to ensure the accuracy and integrity of the asset records. Overview of assets tagging and physical veri?cation services: Asset Register and Database  Asset Tagging  Physical Veri?cation  Reconciliation and Data Updates  Reporting  Assets tagging and physical veri?cation services are often conducted by internal teams or outsourced to specialized service providers who have expertise in asset management, tagging technologies, and veri?cation processes. These services can be customized based on the organization’s speci?c needs, industry requirements, and the nature of its assets. Mystery Shopping Mystery shopping is a research technique used by organizations to evaluate the quality of their products, services, and customer experiences. It involves hiring individuals, known as mystery shoppers, who pose as regular customers to assess various aspects of the organization’s operations. Here’s an overview of how mystery shopping works: Objective and Scope  Selection and Training of Mystery Shoppers  Assignment and Visits  Data Collection  Analysis and Reporting  Action and Improvement  It’s important to conduct mystery shopping ethically and transparently, ensuring that employees are aware of the program and that data is collected and reported objectively. Engaging professional mystery shopping companies or agencies can provide expertise in designing, executing, and analyzing mystery shopping programs. Have a Query? Connect with us, locate an o?ce closest to you, or join our team.  Connect with Us! Email * Subscribe Our Newsletter Get update Submit Our Services Audit & Assurance  Risk Advisory  Contact us Direct Tax 

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