Risk management is not the responsibility of an individual function it is the responsibility of the organization as a whole. Recent Corporate governance failures and frauds have been observed due to lack of responsibility, clarity and policy and procedures.
Ever increasing compliances and monitoring by regulators and other stakeholders have made it obligatory for the companies to exhibit existence of farsighted business strategies, effective & efficient controls, and proper accountability. Failure to keep up with the ever-evolving business environment and risks could hamper the brand image and existence.
Establishments should be watchful about risks presented by both internal and external environment. For example, a vendor who fails to meet the commitment, or who does not align with the company’s ethical practices, can have significant implications financially or otherwise.
Considering such risks, the scope of internal audit function is increasing from purely financial & compliance review to a more tactical function that assesses the risk profile for emerging risks and tries to read into the pattern of such risk as it impacts the operations of the business.
ASC’s professionals are equipped with the necessary knowledge and skill sets to help companies achieve their vision and deal with risks that could unbalance their business existence. We at ASC, ensures that clients realize their full potential by-