a) Management assurance
Process review and Validations
We assist management in understanding the Gaps between "as is" and "to be" in the process. Good processes are core to any organization and we, with structured approach, support management in developing good processes within the organization for sustainable base. Revenue assurance addresses in Identifying, remedying and suggesting for prevention of errors in revenue cycle and plug the revenue leakages in all income stream.
b) Risk Based Internal Audit
Internal Audit has become necessity in mid-size organisations. Internal audit is always grossly misunderstood as sibling to Statutory audit or function for checking tax compliances only. Modern Internal auditor is consultant and with analytical skills helps businesses to improve processes, Internal controls and addresses entity wide risk. No business can achieve balanced growth unless continuously monitored; implementation of robust internal audit mechanism facilitates the same. Being an expert in the area since 1997, Our Integrated approach of 360degree scrutiny of transaction in internal audit is unique which identifies the areas for improvements in all functions of the entity and also helps management to have business insights from outsider’s point of view.
c) Enterprise wide Risk Management
Risk is pervasive across organizations. We strongly believe that entity must carry out risk assessments on regular basis. In dynamic business scenario, businesses are exposed to many external and internal risk. Internal risks are more deteriorating to business if not identified and addressed in time. We assist the organization to identify, manage and mitigate all the risks across the entity.
d) Internal Control Reviews
Business can scale high, only if, monitored properly. Internal controls are lifeline for any organization’s success and survival. Operational Risks & frauds and controls are inversely proportional. Management needs to build strong control within the organization for seamless functioning and achieve its objective. We support entity through our deep study of internal control frameworks, to identify the gaps in Internal controls and suggest improvements for robust control systems.
e) Internal Financial controls (IFC) compliance advisory and Audits
The Companies Act, 2013, made it mandatory to all entities and auditors to certify that Internal Financial Controls (IFC) are in place, implemented & operating effectively and disclose this fact in Annual report. As compliance, the entity needs to prepare the “Risk control Matrix” for all significant account balances and classes of accounts. We assist management in preparing Risk control matrix and also test the controls required for IFC’s. Management would strengthen the controls through this activity.