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 ADVISORY

RISK ADVISORY

Internal Audit and Management Audit

We, at QED Corporate Advisors, firmly believe in delivering Internal audit and risk management services at the highest levels of professional competency and integrity to the clients.

Our services include
  • Complete outsourcing of internal audit function
  • Co-sourcing and supplementing internal audit function along with the existing capabilities of the client organization
  • Deputation of personnel to strengthen the internal audit function of client organization
  • Conducting concurrent audits with dedicated teams for more focused transaction audits as well as on-line auditing/pre-payment audits
  • Conducting operational audits through review of business operations, activities, etc.
  • Conducting special purpose investigative audits
  • Techno Commercial Concurrent Reviews

IMPLEMENTATION OF CONTROLS

The Statutory Auditor has to currently report on internal controls under Companies (Auditor’s Report) Order, 2003 and their scope will now even cover the operating effectiveness of the entire control system.

Given the broad scope of internal financial controls, there is need for a comprehensive, uniform control framework and associated principles for all constituents.

We at QED Corporate Advisors, provide guidance on designing and implementing an effective control framework, use of judgment and importantly meeting the organisation’s governance and control objectives.

Our services include
  • Risk Management
    • Policy and Framework designing
    • Risk Identification
    • Risk Assessment
  • Internal control assessment
  • Process improvement and operational effectiveness
  • Security and Technology solutions (IT business risk management, data management and information security)
  • Audit and Compliance
  • Fraud and Antifraud Programs (Detection as well as Prevention)

Internal audit in many companies is more than only pure compliance. It is viewed more as a function that scans and reviews regularly, the risk profile of the entire organisation to identify emerging risks, and protect the entire organisation. Nowadays, Risk Departments are increasingly taken into the process of decision-making , and not viewed only as another department.

Compliance Review

Our services include

Compliance review for matters arising out of the following Indian laws:

  • Company and Corporate laws
  • Securities and Exchange Board of India (SEBI) regulations
  • Foreign Exchange Management Act
  • Income Tax
  • Service Tax
  • VAT/CST
  • IPR laws
  • Labour laws
  • Other allied laws

Assisting in preparing Compliance Manual for various Indian laws as mentioned above

SOX Advisory services

Sarbanes Oxley Compliance (SOX) is a set of control requirements that regulate the working of financial statements. This demands more scrutiny and exercises a deeper insight into the functionality of all aspects.

The Sarbanes-Oxley Act of 2002 ('SOX')" entrusts the management of SEC registrants with the responsibility of annually reporting the effectiveness of their internal control structure and procedures for financial reporting, and attesting the financial statements.

SOX exercises in India are carried out w.r.t. SAS 70: Audit Considerations for Service organisations. Our service offerings cover the entire SOX Compliance lifecycle, including identification of processes that are SOX significant, continuous monitoring and review which includes performing an enterprise risk assessment, documentation & review, Control Testing. Our professionals also help you to cope with the fluctuating resource demands of ongoing testing and certification.

QED’s Approach to SOX includes :
  • Scoping, planning, identification of significant accounts, locations and processes
  • Developing Process documentation, Risk & Control matrices
  • Testing of Design & Operating effectiveness of controls
  • Entity Level controls documentation & evaluation
  • IT General Controls, Application Controls and end user computing – IT SOX Assistance
  • Deficiency remediation support and re-testing of failed controls post remediation by Management
  • Control Rationalization and Optimization
  • Risk Convergence, including SOX (Financial Reporting related Risks) with Operational Risks and Compliance Risks

INFORMATION SYSTEM AUDIT ADVISORY

Information System Audit encompasses a comprehensive review and evaluation of automated information processing systems, related non-automated processes and the interface between them. Obtained evidence evaluation can ensure whether the organization's information systems safeguard assets, maintains data integrity, and is operating effectively and efficiently to achieve the organization's goals or objectives.

We at QED Corporate Advisors, use our expertise to provide an independent assessment of the adequacy and design operating effectiveness of internal controls in the organisation. In an age of information that is heavily dependent on IT systems, cyber-security has become all the more important. Auditing and securing these systems is a vital function to provide assurance that an organisation has what it takes, to avoid loss from system or human error and assurance on its integrity.

We assist our clients in aligning their business and technology initiatives, in order to achieve their goals in a timely and effective manner.

Some of our services include:
  • Application audit
  • Technical Infrastructure and Operational Practices
  • Protection of Information Assets , &, Business continuity and disaster recovery planning preparation, implementation and testing
  • Project management
  • IT security policies development and implementation
  • Business Process Evaluation & Risk Management
  • Control objectives for IT
  • Information system design & implementation