Audits and Assurance

Internal Audits

The Internal Audit function has now evolved and become more specialized for each industry as business standards, types of risks, types of compliances, laws, standards etc. vary. Our Audit teams are trained on business domains to provide better analysis and insights.

Our Audits and Assurance Service teams are additionally trained on a range of technology and tools to work with greater efficiency and ensure proper evidence classification, ensuring data privacy and security as well as appropriate data integrity / interpretation.

Assurance and Consulting have added to the breadth of services offered by us.

Software - Smart Task (Workflow, Project Tracking, Scheduling), Nexcloud (Secure and Encypted Data Exchange), Audit Reporting Tools

Internal Audit and Assurance Services scope -

- Financial Audits
- Compliance Audits
- Performance Audits
- Quick Response Audits
- Assessment Services
- Remediation Services

Enterprise Risk Management Advisory

Enterprise Risk Managmeent (ERM) Advisory services that require depth of knowledge of industries as well as the business environments that they operate in. ERM advisory and interventions are carried out by our senior advisers

Software - Smart Task (Workflow and Scheduling), Simple Risk

Enterprise Risk Advisory Scope -

- Financial and Business Risks

- Regulatory and Operationsl Risks

- Contractual, Transactional and Cross Border Risks

- Information System Risks

- Cybersecurity Assurance Planning

- Supply and Demand Chain Risks

- Business Continuity & Disaster Recovery Planning

Inventory and Asset Audits

Inventory and Assets require extensive physical verification as business grow and expand location presence rapidly. Our Inventory and Asset Audit teams have a rich expertise of a varied set of audits and assurance activities for clients.

Software - Smart Task (Workflow, Scheduling), Laser GRC (Audit Reporting), Nextcloud (Data Management), Strategic Smart Audit App

Inventory and Asset Audits Services Scope -

- Stock Audit (Retail Outlets, Factories,
Warehouses, Branches, E-Com Warehouses)
- Fixed Asset Audits (Retail Outlets, Factories,
Warehouses, Offices, Institutions)
- Stock Reconcilliation Audits
- Stock Build up / Migration to new ERP
- Store Opening / Closing Stock Audits
- Surprise Audits
- Franchisee Audits
- Investigative Audits

Management Audits

Management Audits focus on evaluating business results, suitability of controls, procedures, processes, methods and maturity of systems. Our audit teams are trained to conduct various types of functional and cross functional Management Audits as per client scope. Functional / Cross functional areas include Finance, HR, SCM, Sales & Marketing, IT and E-Commerce. The Audit scope would vary depending on industry requirements and needs, standards, performance criteria, SOP scope, sample size, number of controls, measurement parameters etc. Software - Smart Task (Workflow and Scheduling), Nextcloud (Data Management), Strategic Smart Audit App, Management Audit Scope - - Finance and Commercial Processes and Systems
- Human Resources & Payroll Processes and Systems
- Supply Chain Processes and Systems
- Marketing, Sales and Visual Merchandizing Processes and Systems
- Information Technology Processes and Systems
- Manufacturing and Production Processes and Systems
- Policies and Governance
- Environment, Health and Safety
- Corporate Structure and Corporate Office
- Margins, Pricing and Costing
- Business and Operational Excellence

Forensic and Investigative Audits

Forensic and Investigative Audits are required to investigate preventive and detective controls or to investigate an incident. Focus of such audits are on materiality, people practices, organizational value systems, policies and governance and business ethics.

Outcomes of these can have far reaching ramifications and require specialized investigation, data analysis and interpretation skills.
Software - Smart Task (Workflow and Scheduling), Aparajitha Compfie (Compliance) Professional Services Scope - - Forensic Audits for Retail Stores
- Forensic Audits for Corporates / Enterprises
- Forensic Audits for Large Projects
- Investigative Audits for frauds and other incidents at workplaces

Information Systems Audits

Information Systems are growing in importance across organizational operations as well as the boardroom. This requires special emphasis on management of information, master data, privacy, security, business continuity, IT operations, data management practices, data governance, data quality etc. to name a few. Our Information System Auditors are trained both on IT processes and systems to evaluate the maturity of such systems, check for data integrity especially during system migrations, check for compliance with IT laws, Privacy laws, Data Security laws, implementation of IT policies and controls and preservation of Intellectual Property. Information Systems Audit Scope - - IT Process Audit
- Data Integrity Audit (software migration)
- IT / Data Governance Audits
- Systems and Application Audits
- Data Valuation Assessment
- Data Privacy, Security & Residency Assessment