Governance

Internal Audit / Concurrent Audit / SOP Development

  • Internal Audit Services include outsourced, co-sourced, loan staffing, revenue and cost assurance reviews, process reviews, ISO readiness and SSAE 16 reviews across the FS life cycle
  • Concurrent audit services include concurrent audits for Banks and Insurance Companies as the same is mandated by the regulators

Management Audits

  • Management Audits refer to strategic reviews across the various lines of defense within the organisation across the themes of people, process, governance, technology and leading practices
  • This review is mandated by the Reserve Bank of India for Banks, though such reviews are also conducted by some of the leading NBFCs and insurance companies

Quality Assurance Reviews of Governance functions like Internal Audit

  • The IIA Standards require an independent quality assurance review to be conducted around the efficiency of the internal audit functions within the organisation.
  • Efficiency of the function is evaluated across the parameters of people, process, governance and technology

Review of effectiveness of Board of Directors / Audit Committees

  • The service involves reviewing the effectiveness of the Board of Directors or Audit Committees across the parameters such as adherence to Companies Act, comprehensiveness of the Board or Audit Committee agenda, dynamism of the agenda to incorporate changing circumstances and diversity and expertise of the committee members

Cyber Risk Services

  • IT Application Control reviews, IT General Control Reviews and Data Centre audits
  • IT Security Reviews across alternate channels like internet banking, Mobile Banking, ATM channels
  • BCP / DRP reviews

IFC / ICFR / SOX Planning, reviews and testing

  • Review of the IFC / ICFR and SOX requirements right from the stage of planning, design level reviews to control testing
  • Such engagements also include the IFC alignment to Operational risk reviews, given its overlap in the Financial Services domain, primarily Banks
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