Internal Audit

• Systematic Evaluation: We thoroughly evaluate internal processes, controls, and risk management strategies to ensure they are functioning properly and meet regulatory requirements.

• Control Effectiveness: Evaluate the ability of internal controls to detect and prevent errors, fraud, or noncompliance. This include examining control procedures, monitoring systems, and testing transactions.

• Process Improvement: Identify areas for improvement in internal processes in order to increase efficiency, decrease risks, and comply with best practices. Recommendations are provided to optimize control mechanisms and operational procedures.

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Internal Audit Transformation

• Process Optimization: We examine current internal audit procedures and apply improvements to increase efficiency, remove redundancies, and assure comprehensive risk coverage.
• Technology Integration: Use sophisticated technologies like data analytics, automation, and artificial intelligence to modernize the audit function and improve accuracy and efficiency.
• Strategic Restructure: Evaluate and restructure internal audit strategies to better line with the organization's goals, risk landscape, and industry standards. This could include revising audit scopes, procedures, and reporting systems.

Enterprises Risk Management

• Integrated Framework: Create and implement a comprehensive ERM framework for identifying, assessing, and managing risks throughout the enterprise. This paradigm links risk management with strategic objectives and business processes.
• Risk Identification and Assessment: Systematically identify and assess risks that may have an influence on the organization's objectives, such as financial, operational, strategic, and compliance issues
• Risk Response and Monitoring: Develop and implement risk response plans to reduce identified risks. Continuously assess risk exposure and the efficacy of risk management techniques, changing as necessary.

Risk and Control Registers

• Risk Registers: Establish and keep up-to-date comprehensive risk registers that list all known hazards, possible effects, and mitigating mechanisms. Effective risk management and internal auditing depend on these registers.
• Internal Controls: Create and keep up control registers that list the measures used to manage risks and guarantee that laws and regulations are followed. These registers are useful for monitoring the efficacy of controls and pinpointing areas in need of development.
• Reviews of ICFR: Review internal controls over financial reporting (ICFR) to make that the measures are in place and functioning properly to stop significant misstatements.

Process Designing and Documentation

• Process Development: Create Standard Operating Procedures (SOPs) by designing and writing them to record workflows, best practices, and procedures for important business operations. This guarantees uniformity, effectiveness, and adherence throughout the entire establishment.
• Process Optimization: To increase productivity overall, cut waste, and improve efficiency, review and optimize current processes. This could entail applying best practices, removing bottlenecks, and optimizing workflows.
• Documentation and Training: To guarantee that staff members comprehend and follow SOPs, prepare thorough documentation and offer training. This will promote a culture of compliance and ongoing development.

SOX/JSOX Reviews - Design and Testing

• Design and Implementation: Help companies create and put into place controls that satisfy the criteria of the Japanese equivalent (JSOX) or the Sarbanes-Oxley Act (SOX). This include creating control frameworks, recording procedures, and making sure that rules are followed.
• Testing for Effectiveness: Assess the performance of internal controls aimed at guaranteeing the precision and dependability of financial reporting. Determine where controls are weak and suggest improvements to improve control efficiency.

IFC/ICFR -Design and Testing

• Design and Development: Create internal controls over financial reporting (ICFR) and internal financial controls (IFC) in accordance with the Companies Act of 2013. To do this, control structures that handle financial reporting risks and guarantee legal compliance must be established.
• Effectiveness Testing: Verify that the IFC and ICFR are operating as intended and offering a fair level of assurance regarding the correctness and dependability of financial statements by testing their design and operational effectiveness. Determine and fix any flaws or shortcomings in the control system.

For More Details: ICFR Applicability

Fraud Risk Assessments & Investigations

Identifying and investigating potential fraud risks to protect your organization from financial loss.

• Policy Review: Analysing procedure and policy documents from the relevant period to identify gaps and lapses.
• Red Flag Identification: Detecting signs of potential fraud, such as unusual transactions, discrepancies in financial records, or conflicts of interest.
• Detailed Investigation: Conducting thorough investigations into suspected fraudulent activities, including forensic accounting and interviews with relevant parties.
• Evidence Gathering: Collecting and preserving evidence to support findings and assist in potential legal proceedings.

Enforcement Agencies Assistance - CBI, SFIO

Providing support and collaboration with enforcement agencies to address financial crimes and ensure legal compliance.

• Case Preparation: Assisting in the preparation of cases for submission to enforcement agencies, including the collection of evidence and documentation.
• Legal Support: Working with legal teams to ensure that all actions are compliant with regulatory and legal requirements.
• Ongoing Coordination: Maintaining communication and coordination with enforcement agencies throughout the investigation process to ensure alignment and support.

Forensic Audit Under RBI Guidelines

Conducting audits in line with RBI guidelines to uncover and address financial irregularities.

• Audit Planning: Developing audit plans that adhere to RBI guidelines, ensuring a comprehensive review of financial transactions.
• Identification of Irregularities: Uncovering financial irregularities such as embezzlement, fraud, or misreporting through detailed analysis.
• Documentation & Reporting: Providing detailed reports that document findings and outline necessary corrective actions.

Transaction Audit Under IBC 2016

Performing transaction audits under the Insolvency and Bankruptcy Code (IBC) to ensure compliance and transparency.

• Irregularities Identification: Identifying any transactions that may be considered fraudulent, preferential, or undervalued during insolvency proceedings.

Digital Forensic

Leveraging advanced digital forensic techniques to uncover evidence of cybercrime and other digital misconduct.

• Forensic Analysis: Analysing digital devices and data to uncover evidence of cybercrimes such as hacking, data breaches, or unauthorized access.
• Evidence Preservation: Ensuring that digital evidence is collected, preserved, and documented in a manner that is admissible in legal proceedings.
• Open-Source Intelligence(OSINT): Conducting market intelligence using open sources like social media and reputational checks to gather information relevant to investigations.
• Direct Contact Investigations: Reaching out to current and former employees, vendors, and other stakeholders to gather insights into the business and potential issues.

Anti Bribery and Corruption

Implementing robust anti-bribery and corruption measures to safeguard your organization’s reputation and legal standing.

• Anti-Bribery Framework: Developing and implementing anti-bribery policies and procedures that comply with relevant laws and international standards.
• Training Programs: Providing training for employees and management on anti-bribery and corruption practices to ensure adherence to policies.
• Risk Assessment: Assessing the organization’s vulnerability to bribery and corruption and implementing measures to mitigate these risks.
• Audit Support: Assisting with internal and external audits to ensure compliance with anti-bribery regulations.

Assets Tracing

Tracing and recovering assets lost to fraud or other financial crimes, ensuring that your organization’s resources are protected.

• Onshore & Offshore Assets: Tracing assets both within and outside of the country, including banking transactions, property, and other valuable resources.
• Forensic Techniques: Utilizing forensic techniques like lifestyle mapping, corporate filings, and criminal search to locate hidden assets.
• Fund Diversions: Investigating fund diversions and ensuring that diverted assets are recovered and returned to the rightful owner.
• Network Analysis: Mapping the network of relationships and transactions to trace assets through acquaintances, memberships, and other connections.

AML and KYC Review

Conducting Anti-Money Laundering (AML) and Know Your Customer (KYC) reviews to ensure compliance with regulatory standards.

• Policy Review: Evaluating existing AML and KYC policies to ensure they meet current regulatory requirements.
• Process Audit: Auditing the organization’s processes for customer verification, transaction monitoring, and reporting to ensure compliance with AML and KYC regulations.
• Mystery shopping: Implementing mystery shopping techniques to assess compliance with AML/KYC standards and gain insights into customer interactions.

Process Re-designing & Automation

We redesign workflows to seamlessly integrate with human control points, combining human oversight with automation for a smooth and efficient operational flow. Our services include Process Discovery, Re-engineering & Re-design, Business Process Management, Workflow Automation, and Low-Code/No-Code Automation, all aimed at streamlining operations and managing repetitive tasks.

IT Strategy - Transition to newer optimal solution

Our IT Strategy services facilitate a smooth transition to newer, optimal solutions by leveraging cutting-edge technologies, Artificial Intelligence (AI) / Machine Learning (ML), IOT, Blockchain, Cloud Computing and industry best practices. We specialize in guiding businesses through digital transformation, ensuring enhanced efficiency and competitive advantage with strategic IT upgrades and integration.

ERP - Pre and Post Implementation Support

Our pre-implementation support involves needs assessment, system selection, and planning to ensure a smooth setup, while post-implementation support includes user training, troubleshooting, and system optimization to maximize the ERP system’s effectiveness and ensure long-term success.

Business Continuity Resilience Advisory

We focus on developing strategy and solution design through leverage of technology, Project management of resilience program, supporting execution of resilience programme, monitoring and audit to ensure an organization can maintain operations and recover quickly from disruptions.

SOC/Cyber /IT audits

We specialize in Control optimization and Automation, Agile and smart Process and control design and Implementation, Control compliance and reporting, Integrated control management design, Implementation and monitoring support., IT /IS /Cyber/ Privacy internal audits and ensuring adherence to industry standards, safeguarding your organization against potential threats and compliance issues.

Budgting and MIS Automation

Our services help you to improve financial management and decision-making by incorporating modern tools and approaches. Our automated reporting systems increase efficiency by providing reports regularly, whereas data integration and warehousing consolidate and organize information. Forecasting and budget planning enable exact financial modeling and cost control, resulting in accurate budget allocation and variation analysis.

On MIS Automation our dashboards and data visualization provide clear insights using KPIs and performance measures, allowing for effective oversight and strategic modifications. We focus on workflow automation optimizes operations by lowering manual work and increasing overall financial reporting accuracy.

Insurance Audit

• It is a comprehensive evaluation of an organization's insurance program, designed to assess the effectiveness and efficiency of insurance-related processes.
• Insurance audit covers the risk of ‘risk transfer’. Under insurance audit all the insurance sub-processes viz. broker selection, insurer selection, policy procurement, renewals, premium payment and claims management are covered for various risks and controls.

Insurance Adequacy Review

Insurance adequacy review is a one-time in-depth review of your key insurance policies to ascertain whether:

• Your risks (perils) are adequately covered
• All the risk locations (corporate office, plants, warehouses etc.) are covered
• Your sum insured is adequate (reinstated cost)
• Policy conditions are complied with.

The review is an essential step in aligning the organization’s risk management strategy with its operational realities, ensuring comprehensive protection.

Insurance Process Manual

• Insurance is a technical matter and most companies, even large conglomerates, lack visibility on insurance processes within the organization. We help companies streamline their insurance processes and build their insurance manual (SOP) covering all aspects of insurance life cycle from broker selection to claims management.
• By establishing a structured and transparent process, the manual helps organizations maintain consistency, reduce errors, and improve efficiency in managing their insurance needs.

Claims Assistance

• We assist our clients on handling their insurance claims from start to finish. This includes visiting site of loss, handling paperwork, coordination with survey or insurer to ensure that you get timely and justified claim.
• Our objective is to ensure that clients receive timely and fair compensation for their losses, minimizing the financial impact on their business and allowing them to focus on recovery.