With an aim to enhance operational resilience and build enhanced capability in responding to the demands of economic dynamics, Value Added Audit (VAA) is determined to assist in optimizing operational efficiency, managing risk, monitoring controls, enhancing security and improving corporate governance. Value Added Audit can be leveraged as business partner, at multiple levels namely Operational, Tactical and Strategic, for informed decision making, recognizing the team’s broad and deep perspective of operations, risks and potential opportunities. In the context of new normal and technology driven hybrid working model, the team is well equipped to help you improving corporate governance, assessing fraud risk, optimizing cost structure, strengthen working capital and enhancing process efficiency.
The major service offerings are as under:
An integrated review of Operational, Reporting and compliance at all levels, from process level to entity level. This service is aimed to supplement business strategy by providing economical evaluation of efficiency and effectiveness of deployed resource, process, policies. Also, such services assist in assessing risk and resilience. This includes 360-degree review of significant aspects of an entity such as business operations, financial operations and reporting, IT general controls, business continuity and crisis management, supply chain management, operating expenditures, talent management, compliance management, and more.
The coverage could include but not limited to the following:
Project assurance is an essential part of effective project governance. The project audit provides assurance and confidence to the sponsors and stakeholders that the governance is working and the project is managed as intended. Such audit seeks evidence of effective controls and opportunities to increase the likelihood of success of the project. The audit will cover the following:
It assesses current processes and procedures, it identifies areas where a company can improve its operations, allowing it to make the changes that make its processes more efficient, effective and economical. It looks beyond the organisations financial circumstances and examines its management practices. Rather than performing a traditional audit due to an issue occurring, the operational audit examines business areas that may benefit from process improvements. It also provides insights on upside of a risk.
Our operational audit service ranges from audit of a specific function to audit at an organizational level.
Understanding organizational vulnerabilities and establishing an appropriate framework to identify and respond to them have become more essential than ever in today’s context, as regulators are demanding more active management and investigation for a wide range of risks, including financial crime, fraud and corruption.
Our risk advisory service aims to foster proactive risk management culture aligned with business objective. The support ranges from operational risk management to enterprise risk management. We also assist in designing data driven dash boards by establishing key performance indicators, key risk indicators, risk parameters. Such support also extends to monitoring and testing post implementation of the framework.
Processes are the nucleus to every business. Be it be onboarding a resource or deciding on credit limit for a customer, data need to flow through in a certain sequence until the task is done.
Business process mapping is a holistic approach that enables to visually depict process steps and show how a process should function from start to finish. It identifies exactly who is responsible for a particular task, when does each task occur, what is the sequence of tasks, who are stakeholders for each deliverable, what are the SLAs, how aligned are the objectives across the organisation, what are the critical success factors, what potential risks might emerge, what is the frequency of evaluation and monitoring.
This simplifies the processes and eliminates redundancies to make it more efficient, effective and economical.
Our BPM service covers
Our business advisory service includes:
Social Audit helps the organization to set up measurement criteria for its social impact, account for its social performance, report on that performance and draw up action plans to improve that performance. The Audit ensures compliance with Social Auditing and Reporting Standards. It is also key in mapping stakeholders and relevant social Indicators. The Social Audit helps entities in assessing the physical and financial gaps between needs and resources available to meet targeted social objectives.
The audit will cover the following: