Risk Management

BUSINESS ADVISORY & INTERNAL AUDIT

BUSINESS ADVISORY & INTERNAL AUDIT

We help our clients recognise and mitigate risks by setting up robust business processes, institutionalising the right internal controls, improving the use of information technology and achieving operational performance improvements. We essentially focus on delivering value for our clients and in line with the firm’s philosophy, act as genuine advisors in growth.

1 INTERNAL AUDIT

Internal auditors have a big task to perform. Their assessments, monitoring and analysis is the basis of the recommendations and reassurances they provide to the organization in terms of finances and governance.
Through our internal audits, we support businesses by enabling them to improve specific processes which may require their attention and to continue excelling in areas where they are already performing well. This gives organizations the chance to prosper in terms of finances and in its operations.

2 INTERNAL FINANCIAL CONTROLS

A comprehensive evaluation of how an organization is addressing risks in relation to its size, the complexity of its operations and its geographical reach can play an important role in the adoption of Internal Financial Controls. Section 143(3)(i) of Companies Act, 2013 requires an auditor to clearly state if a company has adequate Internal Financial Controls system in place or not and whether these controls operate effectively.
NSKT and Co LLP has specialists who are experienced professionals who can provide organizations with Internal Financial Controls. Our experts have deep knowledge about tools and technologies related to internal financial controls and we can also help establishments by testing the existing controls.

3 RISK ASSESSMENT

Business risks create an environment of uncertainty which can lead to severe financial losses. Sound risk assessments assist companies in reducing the possibilities of such dire consequences and help them employ various means to cover risks which cannot be controlled. An Enterprise Risk Management program ensures coordination and improves overall effectiveness in risk management in a business.
We conduct risk assessments which include the determination of operating objectives, and the identification of all activities that may obstruct the business in accomplishing its objectives. Our experts have helped several clients fortify their businesses against potential hazards through careful screening of the business.
Our Enterprise Risk Assessment services helps companies take risks which will help in the creation of value and avoid or reduce those which can lead to losses.

4 SOP DEVELOPMENT

An SOP is a fundamental element in a business model which acts as a guide to help the company and its employees know and understand the course of action that they should take in various business circumstances.
We build a framework and then complete it with the help of inputs from the management, subject matter experts and the quality assurance team of a company. This is drafted and carefully reviewed going through changes when and where required before the SOP is published throughout the organization.

5 OPERATIONAL AUDIT

We use a variety of tools and procedures to conduct operational audits in an attempt to support an establishment in improving existing processes. By identifying areas where the operational processes may be lacking in various ways, we are able to help companies improve the quality of operations and increase overall returns.
Most of our team members have conducted operational audits and are well-versed with the different tools that help in analysing existing process. The outcome attained through this audit helps companies in restructuring their existing processes to improve overall profitability.

6 IS AUDITS

IT infrastructure requires careful analysis to enable companies to protect their information assets and help organizations utilize the information system in the most efficient manner. As IS auditors, we examine physical, financial and business controls relevant to the IT systems.
The main objective of this audit is to ascertain the security of company data by examining the processes and systems which are currently being used in an organization. Through this audit, we determine, inefficiencies in the existing IT infrastructure including the systems, processes and the management.

7 SOX COMPLIANCE

With financial records becoming digital for most companies, SOX compliance plays an important role and is complemented with a strong IT infrastructure. We have a proven record of helping organizations achieve and maintain compliance to the Sarbanes-Oxley Act (2002).
Clause 49 of the Listing Agreement has been in effect in India since 31 December 2005 which is in lines of the SOX Act. SOX was introduced to increase the efficacy of Internal Control Mechanisms, to make sure that companies provided full disclosure in all financial reports and to enable complete transparency in all transactions.
Our team supports companies by setting up necessary controls and processes which can maintain security and ensure that an establishment is compliant. All our solutions are tailored according to the various needs of the organization that employs are services.

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