Governance, Risk & Compliance

We offer a comprehensive range of Risk Advisory & Special audit services designed to help all size of businesses and enhance the controls and improve the efficiency, irrespective of their stage of business, whether in the initial startup stage or well established ongoing status. We are committed to providing quality assurance services to help ensure that our clients’ financial statements meet relevant regulatory and business requirements, robust ICFR (Internal Controls over Financial Reporting) framework and to help satisfy stakeholder expectations for assurance.Risk Based Internal audit today is an essential function in all listed and non-listed companies who believe in corporate governance and enterprise risk management. The role and importance of the internal audit function have evolved over time. No matter at whatever stage your company is. Basically, the function of Internal Audit is “what a CEO would do if he has more time & authority” and that precisely tells what we do for you.

 

In the past, internal auditors were primarily engaged to check compliance with corporate policies and procedures. In most organizations today, internal auditors’ roles extend beyond their historical purpose to include all or some of the following:
  • Provide recommendations to the board, particularly the Audit Committee, on issues of corporate governance and assisting in the identification and evaluation of the organization’s risks;
  • Provide recommendations to the management of companies in areas where internal controls need improvement and efficiencies need enhancement;
  • Where possible, working with external auditors to reduce their work by covering some of the areas of work that they may rely on;
  • Assistance with SOX-related work;
  • Where appropriate, assistance with training on matters such as the importance of internal controls (Risk Model Frameworks), corporate governance, and risk management, and the importance of their participation in such matters.

We recognize that some organizations prefer to outsource their internal audit function and that some others do not find it cost-effective to have a fully-staffed internal audit department in Singapore, Indonesia, Malaysia or India. As such, we are equipped to provide a full range of internal audit services in South East Asia & India Region. It may be in-sourcing (using your team),co-sourcing, outsourcing completely to us or on process based – tailor made.

We also help in companies setting up new Internal Audit team – kind of turnkey project. We set up the Internal Audit team for your company, train the people and hand over the department to be all of their own. Periodical review / assessment may be conducted by us.

Enterprise Risk Management (“ERM”)

 

ERM is a key element of corporate governance and it is essential in enabling the board to fulfil its corporate governance role. Identification of each enterprise’s risk is typically conducted by management under the guidance of the board. The board is responsible for monitoring the risks identified and ensuring that the risks are within acceptable levels given the objectives of the enterprise and the business and economic environment that the business is in. Companies in the conduct of their businesses are at different levels of ERM. Many companies however have not formally streamlined nor documented their ERM process.

 

In many companies, the Board members and certain key management employees are involved in ERM. Many companies do not engage other management and staff in the risk evaluation and risk management implementation process even though input from management and staff are essential for the success and effectiveness of ERM

We can assist companies in any combination of the following:

 

  • Conduct ERM workshops for the board, management and staff to help them understand the importance of ERM and their role in the successful implementation of ERM in their respective organizations;
  • Assist management in formalizing their ERM framework and the processes for identification, evaluation and assessment of the enterprise’s risk;
  • Assist management in the documentation of the ERM framework and processes.
  • Assist the board and management in designing tools and the process for monitoring the relevant risks of the organisation.
  • Where we are the internal auditors, we will evaluate the effectiveness and efficiency of the company’s ERM process.

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