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Risk Advisory |
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The Internal Audit (IA) function has grown to be
an independent, objective assurance and consulting
activity in today's business environment. It is
designed to improve an organization's operations
through application of a systematic and disciplined
approach to evaluate and improve the effectiveness
of the risk management, control, and governance
processes.
As an instrument of corporate governance, the IA
function is required to provide objective assurance
to the Board and management that the risk exposures
that an organization faces are understood and managed
appropriately in dynamically changing contexts.
A quantum leap in the complexity of corporate governance
regulations has also placed significant responsibility
on the internal audit function.
Consequently, the role of today’s internal
function is focused to a lesser extent on “compliance
auditing” and to a greater extent on an assessment
of the risk management framework of the organization,
and facilitating process improvements through quality
recommendations.
Provide services ranging from standard
risk and control assessments to internal business
process optimisation. We can partner with your internal
audit team to deliver high quality work at reduced
costs, provide tools, methodologies and training
to your team for their use in future.
Assess existing practices, identify alternatives
based on leading practices and gain consensus on
the most practical approach. We have extensively
helped companies comply with corporate governance
requirements.
Identify and
prioritise risks most critical for your organisation’s
well being. We can analyse processes, frame key
issues, identify gaps and calibrate your efforts
to address the gaps.
Support
internal audit functions that do not have in-house
expertise in performing IT audits. Typical areas
of review include IT strategic planning, application
controls, information security and computer operations.
Develop and enhance fraud governance program by
identifying gaps and assessing possible fraud and
misconduct risks. We can help you design and implement
cost-effective action plans.
Assess the effectiveness of internal audit function
and provide value adding recommendations to streamline
internal audit activity. IIA standards require internal
audit functions to be periodically assessed.
We understand that each client faces risks that
are unique to their operating environment. Our proven
methodology, built upon a Dual-Shore Delivery Model,
can be tailored to your needs.
Understand engagement objectives, prepare audit
work plans and schedules, obtain client signoff
and communicate with process owners.
Interview process owners, perform walkthroughs,
uncover critical risks, identify key controls and
redundant activities, and test existing controls.
Benchmark existing controls against best practices,
identify control weaknesses, design and help implement
plans to address gaps.
Summarise engagement findings, support engagement
findings with process flowcharts, narratives, minutes
of the meeting & work papers, and finalise follow
up plans.
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