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Contacts

605-606 Neptune Edge, Dr. Vikram Sarabhai Marg, Vadiwadi, Vadodara – 390007 Gujarat
info@vjh-ca.com
0265-3584328

Services

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Risk Advisory

Our service

risk-advisory

Our service

At Jain & Hindocha, we provide Risk Advisory Services to empower businesses with effective governance, risk management, process optimization, and compliance.

Key Service Areas

1. Assurance Services :

  • Risk-Based Internal Audits (RBIA)
  • Testing and Reporting of Internal Controls over Financial Reporting (ICoFR)
  • IT Infrastructure & Application Audit
  • BRSR Report Audit
  • Management Audits
  • Forensic Audits and Concurrent IT Audits

2. Consultancy :

  • Drafting SOPs, RCMs, and Policies
  • IFC Testing and Design Gap Analysis/Recommendation
  • Standardization of Processes across geographies
  • Benchmarking and Process Redesigning

3. IT Advisory :

  • ITGC Testing
  • Data Analytics and Automated Control Testing
  • Suggesting ERPs available for process automation

3. Fixed Asset and Inventory :

  • Fixed Assets Tagging through RFID
  • PV of Inventory & Warehousing Controls

Approach to Internal Audits

Phase I - Understanding :

  • Review of organizational vision, GRC framework, and competitive landscape.
  • Define the internal audit scope and finalize the charter.

Phase II - Opening Meetings :

  • Engage with process owners to discuss scope, team structure, and timelines

Phase III - Execution :

  • Perform data analytics, risk register reviews, and IT/manual control tests
  • Conduct walkthroughs and verify source data authenticity.

Phase IV - Reporting :

  • Deliver audit reports with observations, root causes, impacts, and recommendations.
  • Facilitate discussions on management responses and CAPA (Corrective and Preventive Actions).

Phase V - Presentation :

  • Highlight high and medium-risk observations to boards or audit committees.

Core Principles

  • Risk - Based Approach : Focus on high-impact and evolving risk areas.
  • Independence : Unbiased assessments.
  • Value Addition : Recommendations to optimize processes and controls to identify revenue leakages or cost optimisation opportunities
  • Extensive Analytics & Benchmarking : Performing data analytics using tools and benchmarking at industry level.
  • Experienced Team : Insightful and objective reviews.

At Jain & Hindocha, we ensure risk advisory services are designed to enhance governance, streamline processes, and drive sustainable business performance.