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:
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Critical evaluation of internal controls adopted by organisations and suggesting areas for strengthening
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Review of existing business processes, policies and practices with a view to suggest best practices, including a thorough benchmarking exercise
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Review of Risk Management Framework and its effectiveness with a view to provide suggestions for strengthening the same
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Constructive review of operations by keeping the client's business needs in focus
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Identification and recommendation of areas for cost reduction, revenue optimization and improvement in operational efficiency followed by assistance in their implementation
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Providing result-oriented and practical solutions followed by support for its implementation
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Confirmation of proper compliance with various regulatory provisions and operational manuals
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Assisting in meeting the clients’ Corporate Governance requirements
Our services include
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Complete outsourcing of internal audit function
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Co-sourcing and supplementing internal audit function along with the existing capabilities of the client organisation
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Deputation of personnel to strengthen the internal audit function of client organisation
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Conducting concurrent audits with dedicated teams for more focused transaction audits as well as online auditing/pre-payment audits
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Conducting operational audits through review of business operations, activities, etc
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Conducting special purpose investigative audits
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Techno Commercial Concurrent Reviews