Risk Advisory Services

Risks are all around you. You cannot afford to put your business at peril by ignoring them because these existential threats are multiplying. Risks threaten entire enterprises, not only business units, programs or processes.

External auditors have a very limited scope of work and they do not report on the risks faced by your operations and business. In order to mitigate disasters you need to anticipate them before they occur. If they do occur, you should have necessary controls to detect and correct them in order to minimise the damage. You have to understand and evaluate all risks and opportunities to strike a reasonable balance between the two.

We understand that unless you have a very large scale of operations; it will be inefficient for you to have in-house risk management, compliance and internal audit team. However, risks will still be looming over your business and any of those risks can adversely affect you. We will provide you an independent and objective assurance about the controls and governance of your organization. We will help your organisation in successfully achieving its strategic objectives by helping you identify opportunities and risks.

Business Risk Consulting

We assists our clients in the development of risk governance and risk management framework to mitigate business risks.

Risk Governance

Under Risk governance services, we can assist you in:

  • Formulating risk management strategy,
  • Establishing a risk management structure, its composition and functions,
  • Forming risk management committee and its charters,
  • Defining roles & responsibilities of Chief Risk Officer and the risk management team,
  • Developing risk management polices and procedures manuals.

 

Risk Management Framework

Risk management framework provides comprehensive approach for identifying source of risks, assessing likelihood of risk occurrence, risk impact on the business and strategy to manage risks. We can assist you in developing a risk management framework by:

  • Identifying your risk environment,
  • Likelihood of risk occurrence and their impact on your business,
  • Prioritizing risks in terms of importance to your business,
  • Framing approaches to manage risk,
  • Developing risk monitoring and reporting mechanism.

We offer our risk management services either full sourcing or as guided transformation.

Internal Audit

An effective Internal Audit function is widely viewed as an essential component of a strong corporate governance framework of any successful organization. Globally, inadequate controls have cost many companies dear. Economically, industries have realized this factor and made a paradigm shift to invest in establishing controls, processes, checks and balances.

Modern management advocates have strongly recommended the need of an independent, objective activity that adds value to improve organization’s operations. Internal Auditing helps an organization accomplish its objectives by bringing in a systematic disciplined approach to evaluate and improve upon the effectiveness of risk.

Approach

Our approach is to understand your business processes in an as-is-scenario, test the effectiveness of your processes & controls, bring out the consequences of any deficiency in your process-chain and then recommend a reasonably suitable solution that could fit your needs. We engage with your key personnel to assess the compliance of established processes.

Services

  • Outsourced Internal Audit
  • Internal Control Reviews & Process Mapping
  • Corporate Governance Review
  • Compliance as Required by Regulatory Bodies
  • Other Specialized Services

Technology Risk Consulting

Leveraging Information Technology (“IT”) to manage your risks successfully and create value added products and services has become a universal business competency.

Our technology risk consultants can assist you in leveraging IT with your business objectives, enabling your organization to manage risk from potential disasters, breach of your IT security and controls failure including network security.

Under Technology Risk services, we provide following services:

  • IT Governance,
  • IT Security and Controls,
  • Network Security Review,
  • ERP/Core Application Review,
  • E-Banking Controls Review,
  • Hardware/Software Evaluation and Selection,
  • Business Continuity/Disaster Recovery Planning.

Internal Control Review

Internal control review assumes greater importance in of the rapidly changing business environment. Monitoring and assessment of internal controls across various functions is performed through continuous evaluations to ensure whether the implemented internal control system is effective as intended by the Board of Directors. The assessment facilitates identification of internal control deficiencies for further corrective actions.