The risk-taking capacity and its systematic execution enable the entity to earn an excessive return.
Analyzing the potential risk, its impact on the business, and its correlation with the business processes
help an enterprise gain the most out of the dynamic environment. Apart from potential risks, it is crucial
to perform a comprehensive analysis of the risks involved in the enterprise's present structure and to find
ways to mitigate those risks. Through an Enterprise Risk Management (ERM) approach, our team measures,
controls, and mitigates risks and provides you with solutions that are tailor-made to your business.
The following are the sub-services we offer under Risk Assessment:
Internal Audit
Cross-checking someone's work doesn't reflect a lack of trust, instead, it attests to accuracy,
correctness, and compliance. It is substantial since the cost of non-compliance is way higher than the cost
of compliance. Our team understands the core of the business, designs the standard operating procedure, and
the system to implement it, and keeps a check on it. We provide internal auditing services and help
organizations develop their internal auditing system by guiding them on identification, documentation, and
testing procedures. Our procedures are designed to render cost-effective and risk-preventive solutions that
are in congruence with the organization's mission, vision, culture, and operations.
Pre-Audit
Thorough knowledge of business and its process is vital to have a compliant and successful audit. Due
diligence, including operational and financial due diligence, checklists, extensive scrutiny of the
documents, and financial information subjected to an audit, enables you to have a clear picture of your
finances beforehand.
Concurrent Audit
Statutory and Tax audits are carried out yearly except for Limited Reviews for Public Companies. However,
to ensure periodic consistency in financial documentation, we conduct a timely examination of the financial
statements through a contemporaneous concurrent audit to ensure compliance with various set guidelines.
Apart from statutory compliance, it enables the management to review the periodic performance and make
corrective strategies that will enable the entity to combat the changed framework.
Fixed Assets and Inventory Audit
Since assets are pretty valuable, physical verification and valuation of assets determine an organization's
inventory management effectiveness. Reconciliation of the assets is also critical to early identify probable
causes of pilferage or fraud. The stock audit ensures reasonable satisfaction of audit assertions such as
the existence of stock, completeness of inventory reports, rights and obligations of the inventory as of the
date of audit, correct valuation, and proper presentation and disclosures.
Risk-based Information Systems Audit
Since the data is maintained on the cloud in the digital era, organizations must have a reinforced
Information System. We conduct a detailed ascertainment of the ubiquitous IT infrastructure. Information
System Development (ISD) is crucial to identify and mitigate inherent risk areas that hinder financial
reporting and information transfer. The system designed by our team is based on the black-box and white-box
concepts. The rigorous application of the system and its audit enables the management to establish good data
management, security and sound internal control systems.