We understand the major threats of business today and how they can impact your organisation. The global banking crisis, the rise of cybercrime, changing business dynamics, corporate failures with increased stakeholder accountability – all of these factors only heighten the importance of identifying risks and the appropriate response as early as possible.
We offer following services:
oInternal Audit
§The end result of an internal audit is no longer limited to focusing on the processes and controls surrounding financial reporting. Internal audit now has a more strategic role. It can create value by identifying enterprise-wide risks, leveraging synergies, monitoring and providing early warning of new risks; and improving processes/ efficiency. GBAB provides a platform to its clients to achieve more from the business by providing internal audit services of highest standard.
§OUR INTERNAL AUDIT SERVICES ARE ALSO AN EFFECTIVE MEANS OF EVALUATING:
·Efficacy of operations
·Reliability of financial reporting
·Compliance with various regulations
·Safeguarding of assets and various matters concerning the interest of the company, employees, stakeholders and society in general
oStandard Operating Procedure (SOP) Development
§A standard operating procedure (SOP) is a set of step-by-step instructions compiled by an organization to help employee carry out routine operations. SOPs aim to achieve efficiency, quality output and uniformity of performance, while reducing miscommunication and failure to comply with industry regulations.
§At GBAB, we assess, develop and document Standard Operating Procedures (SOPs) and Policies for organizational functionsbased on the facts of the client, their risk profile, and management objectives. Our SOPs introduce best business practices based on our diverse exposure and knowledge pool created over decades of professional practice.
oInternal Financial Control
§As per Section 134 of the Companies Act, 2013, the term “Internal Financial Control” means the policies and procedures adopted by the company for:
·Orderly and efficiently conduct of it’s business, including adherence to company policies,
·Safeguarding of it’s assets
·Prevention and detection of frauds and errors,
·Accuracy and completeness of accounting records, and
·Timely preparation of reliable financial information
§At GBAB, we help our clients in complying with IFC requirements for financial reporting as per applicable guidelines of Companies Act 2013. We perform design and testing of IFC Framework which includes documenting Risk & Control matrices, testing, and validating controls from a design and effectiveness perspective to safeguard the interest of various stakeholders.
