Risk management


Internal / Management Audits

CAREMAC specialises in Internal/Management Audits, which are primarily conducted in order to provide the client’s management with a clear, comprehensive and unbiased analysis of the functional efficiency of the organisation and to suggest possible areas for improvements. We, at CAREMAC, strongly believe in Internal/Management Audits being a value addition exercise rather than a mere compliance exercise.

Keeping in mind the Risk Management framework, our internal / management audits adopt “Risk Based Audit” (RBA) approach and other tools and techniques for accomplishing the audit objectives.

What We Do

Our Internal/Management audits focus on:

  • Critical evaluation of internal controls adopted by organisations and suggesting areas for strengthening

  • Review of existing business processes, policies and practices with a view to suggest best practices, including a thorough benchmarking exercise

  • Review of Risk Management Framework and its effectiveness with a view to provide suggestions for strengthening the same

  • Constructive review of operations by keeping the client's business needs in focus

  • Identification and recommendation of areas for cost reduction, revenue optimization and improvement in operational efficiency followed by assistance in their implementation

  • Providing result-oriented and practical solutions followed by support for its implementation

  • Confirmation of proper compliance with various regulatory provisions and operational manuals

  • Assisting in meeting the clients’ Corporate Governance requirements

Our services include

  • Complete outsourcing of internal audit function

  • Co-sourcing and supplementing internal audit function along with the existing capabilities of the client organisation

  • Deputation of personnel to strengthen the internal audit function of client organisation

  • Conducting concurrent audits with dedicated teams for more focused transaction audits as well as online auditing/pre-payment audits

  • Conducting operational audits through review of business operations, activities, etc

  • Conducting special purpose investigative audits

  • Techno Commercial Concurrent Reviews