Risk consulting consist many related advisory, which helps in managing the level of risk in the organisation. In Risk consulting we are rendering typical and reserve management services like Fraud Risk Management, Dispute Advisory, Risk Return Assessment, Internal Control Check and Reviews. As we mentioned risk consulting is not just only the management of risk, it also connects various related activities that may increase the level of risk. We are highlighting the risk consulting services that co-relates with risk management. Risk Management is the effort and responsibility of every individual who is working in the organisation.
In our risk consulting service span, we focuses on various managements and advisory so that the risk could be minimize. Fraud risks are the one, which are also getting high due to unsatisfied wants of some employees. On the other hand, next consulting is Dispute Advisory. Disputes often arise when the parties are blaming for negligence, losses and it will finally end up in a litigation case. With these risks, there is another risk i.e. Degradation in the Management Performance and for that we suggest Internal Control Check and Review, which not only audit the performance and work but assure in minimizing the risk. Accounting Forte ensures the delivery of service so that the risk, associated with each other could minimize and can track the risk to serve you better.
Risk Consulting has the following service span: -
In the sum up of SOP implementation, SOP serves as a framework for organization, detailed policies provides direction and structure, believes in best practice to follow and in last tells what, how, when, why, and who for our questions.
Fraud Risk Management is an area of Forensic Professionals who use their knowledge and skills to audit the commercial wrongdoings. The chances of Frauds are mostly depends on the nature of business. Fraud Risk is high in the following major areas - expenses, purchases and embezzlement of resources. Alternatively, we can also say that these are the most frequent frauds. Due to the following risk, it becomes necessary or we can say a requirement of organisation to conduct fraud investigations.
For fraud risk management, organisations always seek experts who have experience in conducting fraud investigations and the officer should be independent and unbiased. Fraud Investigation includes investigation of financial irregularities that have occurring, monetary losses, finding accountable persons. In addition, this can be done only if there is well drafted guidelines and procedures to conduct investigation.
Our team follows a strategy that involve reviewing of necessary documentation, suspicious irregularities, interviewing insiders and outsiders considered necessary, physical checks, collecting evidence, verifying data or important information, third party confirmations, management declarations, etc. Accounting Forte’s comprehensive strategy provides holistic and integrated mechanism for managing frauds as fraud risk management consists prevention, detection and deterrent methods. Integrated mechanism assists different benefits like reduction cost operations, reduction in financial losses, enterprise wide solution, build and protect investors confidence.
Need Dispute Advisory? Team Forte has associated experienced team who provides legal support for your commercial disputes during every stage of contested matter. As in disputes, it involves time, cost, stress, reputation and other losses, so we also assist clients from early case assessments, damage analysis and settlement services. For favourable results corporate, need valuable insight, support and clarity.
We understand, as how the corporate scenario is changing. Cross border business, expansions often leads corporate on unique business challenges. Our Advisory team help them by handling these challenges and assist in sorting these complex business issues. Our experienced global team provides valuable insight and clarity, helping clients during every stage of a contested matter, from early case assessment and discovery to case strategy, damages analysis and settlement services.
We can support your legal team in the area of:-
Undertaking major financial services there are greatest risks involved such as :- credit risk generated by landing activities; market and counterparty risk generated by trading activities ; liquidity risk generated by mismatched assets and liabilities; operational risk caused by error and omission in core systems and processes; and the risk associated with writing insurance contracts for objects, business and people. And some other are related to implementation, rollout and ongoing operations. However, the biggest risk of all is that the Return on Investment. There are certain questions arising in front of enterprises such as :- how the financial resources can be efficiently manage and employed, how to identify important risks and how to manage them, how to ascertain the impact of new regulatory requirements.
Accounting Forte covers all the major risk domains, regulations, analytics, governance, organisation culture and process, system redesign, planning, steering, and strategy for senior executive management. We mainly focus on preparing a proper framework for the steering of funding and liquidity, capital management; risk appetite; integrated management of risk and return and risk disclosure and reporting, ascertaining the impact and supporting the implementation of new regulation on business models and projects defining and applying a target operating model and organisation for a risk function.
Once the risk return assessment has agreed, we commence the initial stages where we work with the senior members and sponsors of the project management team to understand their plans and objectives. And we develop the technologies and platform needed. Now we can work on the overall threat in achieving the return on investment. Then we access the past and current track record of generating benefits of a similar magnitude in previous implementations. Although improved assurance of capability may be obtained via :- in-depth due diligence, involving specific technical or subject matter experts into the project, investment maturity and compatibility and our own research into return on investment risk associated with similar projects and developments.
Internal Control Check and Reviews ensures that the organisation is working as per the regulatory compliances. It helps in protecting and preventing organisation from financial frauds, minimizing errors, low efficiency and other losses. Effective Internal Control provides a platform on which organisation can ensure their revenue growth, secure assets, protect market share. But for designing and implementing an Effective Internal Control Checks, it needs time, resources, knowledge but they generally encounter as an obstacle in designing and developing the system.
Our team assist organisation to review their current Management Information System to check whether Current MIS supports your business operations. Further review will help in implementing an improved system with all relevant information in a very clear and easily understood format. MIS is not only about bringing efficiency and effectiveness but also in improvising your budgeting process and enables you to effectively track and review the causes of variances to budget.
To makes good business sense, a secure and strong Internal Control is needed. As the list of benefits that can be derived from the system are not enough to tell but following are the some highlighted points that seems to be effective to understand the Effectiveness of Internal Control System:-
We at Accounting Forte always ensure that sound control system could establish and benefits could be derived from it.