Risk Advisory Services is an independent risk management and assurance consulting practice providing advice and assistance to corporate and government organisations to improve and manage their risk management.We understand the primary objective of performing risk assessment is to provide the audit committee, senior management, head of operations, process owners, etc. of your organization with a comprehensive and unbiased analysis of the corporate governance processes, risks and functional efficiency of your business and to suggest areas for improvement and value-addition. We bring the benefits of our shared expertise and insight of both the small and big clients.
Our services include:
A standard operating procedure, or SOP is a "detailed, written instructions to achieve uniformity of the performance of a specific function". Standard operating procedures are documented processes which serve as a Bible for process owners and employees within an organization. SOPs aim to achieve efficiency, quality output and uniformity of performance, while reducing miscommunication and failure to comply with industry regulations. SOPs provide employees with a reference to common business practices, activities, or tasks. New employees use a SOP to answer questions without having to interrupt supervisors to ask how an operation is performed. We take care of SOP development by creating it, reviewing it and periodically updating the SOPs.
The requirement of internal control is now legally mandated. In respect of the listed companies, it is by virtue of Section 134(5) of the Companies Act, 2013. Private limited companies are covered by inclusion of Standard on Auditing, in the Companies Act and reporting requirement by auditors. It is therefore, necessary for all the companies to re-visit the existing internal controls. We take care of ensuring adequate internal financial control are in place and the same are operating effectively during the year.