Bringing value through expertise
A
Assurance & Risk Advisory
Reengineering, deregulation, and other change-related activities have broken down the traditional hierarchical structures and changed the organizational reporting relationships and management responsibilities. Each of these phenomena suggests new demands, challenges, and opportunities for the management and the board. Together they emphasize the need for an effective, dynamic and competent management audit function. Today management assurance is critical for strong corporate governance, risk management, effective internal control, and efficient operations.

We assist in effectively managing business risks by ensuring Flawless Processes, Effective Controls and Complete Compliance to Internal and External Policies, Guidelines and Regulations. These services are tailored to meet individual needs and provide effective support to management in meeting the challenges and opportunities presented by today's complex business environment.

Our services enable our clients to effectively coordinate key growth with the quality and the operational challenges faced by them. Our Assurance and Risk Advisory Services provided include the following:

 

Due Diligence

Effective Due Diligence depends on identifying and managing significant transaction issues, anticipating and identifying potentially important risk and negotiation issues. The objective is to improve future performance of the organization by forecasting potential risk outcomes and attempting to improve the efficiency and effectiveness of the existing business processes. Our approach is to save time, money and effort as well as to help in influencing the price at the outset of the deal.

It covers the following areas
   - Independent analysis and evaluation of financial and commercial information prepared at an early stage of a disposal or strategic divestment
   - Gather, analyze and interpret financial, commercial and tax information in detail
   - Compilation and review of financial information
   - Audit of special purpose accounts
   - Interfacing with purchaser and their accounting advisors on accounting matters and challenging due diligence findings of the purchaser Identifying contract warranties

Internal Audit

From Traditional Internal Audit to World Class Management Assurance, the role and nature of Internal Audit is rapidly changing. Merely reviewing internal accounting controls and compliance testing is not enough to satisfy today's management. Business leaders expect their Internal Auditors to continually demonstrate how they can add value to the organization. An independent Quality Assurance review of the Internal Audit function provides an effective means of assessing the performance, against the management's expectations and best practices, which facilities the transition to world-class standards. A SNR’s conducted Quality Control Audit is tailored to meet the specific needs of an organization.


It essentially encompasses:
   - Assessing whether the internal audit focus and planning process reflect the organizations needs

   - Assessing whether there are clear reporting lines and that the whether the structure and status of Internal Audit within the organization is appropriate
   - Reviewing work methodologies to ensure that they comply with relevant standards and current practices
   - Our review is carried out by way of questionnaires, interviews with the Audit Committee, Management and Internal Audit staff, observation and review of the internal audit work.
   - The results are reviewed and the key observations and recommendations are then presented to the Audit Committee.

 

Concurrent Audit

Concurrent Audits are a systematic and timely examination of the financial transactions on a regular basis to ensure accuracy, authenticity and compliance with procedures and guidelines. Concurrent audits do not emphasis test checking but substantial checking of a transaction. The main objective is to detect arithmetical errors and manipulation deliberately made (if any).


Our endeavor is to conduct concurrent audits as per the scope of the entity and it usually includes:
   - A Systems review to understand the existing system and procedures, to enable us to suggest areas for system improvement and strengthening of controls
   - Bringing to light violations of procedures (if any)
   - Ascertaining whether sanctions for advances and expenditures is taken from a competent authority
   - Ensuring compliance with the procedures and policies
   - Review of the Funds Flow Statement and analysis of the utilization of the funds & various resources that were available
   - Detection and arresting of leakages of income, (if any)
   - Reporting inefficiencies at any operational level