Business risk services
Business risk services
Risk is inevitable but manageable, and not always about taking the most cautious route. It is about planning for potential opportunities as well as threats, allowing you to realise the goals of your organisation.
Our services range from an objective, in-depth examination and evaluation of an organisation's ability to manage its financial and operational risk, through to recommendations of corrective processes, procedures and controls. Our aim is for greater transparency and stronger corporate governance.
Our services include:
- Corporate governance advisory services
- Contract compliance services (third party license, royalty audits)
- Enterprise risk management
- Internal audit
- Internal control advisory services
- Pre-IPO assistance
- Quality assurance review of internal audit functions
- Sarbenes-Oxley advisory services
Corporate governance advisory services
Global events and corporate scandals have prompted a closer look at corporate governance practices around the world. In June 2011, the Corporate Governance Council proposed 15 changes to the Code of Corporate Governance. In September 2011, the Singapore stock exchange (SGX) announced amendments to the listing rules to strengthen corporate governance practices and corporate disclosures.
Whether you are a board or audit committee member seeking to assess the current state of compliance in your company, or you need help in establishing a better governance structure, our professionals can help you.
Contract compliance services (third party license, royalty audits)
In contract compliance services, we assist clients to enforce their contractual rights with third party business partners (such as distributors, licensees, resellers and vendors). While the recovery of under-reported revenue or over-reported costs are some of the monetary benefits of having a contract compliance programme, our reviews may also lead to better protection of intellectual property and improved business relationships with business partners.
Enterprise risk management
Risks faced by organisations are becoming more complex and difficult to comprehend and manage. Enterprise risk management involves the identification, assessment, measurement and monitoring of key enterprise-wide risks, thereby avoiding the ‘silo’ risk management approach. Our professionals are able to leverage on their experience and industry knowledge to help you address key risks more effectively.
Internal audit
The Code of Corporate Governance recommends that listed companies should establish an internal audit function to assist the audit committee in discharging its responsibilities. Internal audit has increasing importance in the areas of regulatory compliance, risk management and fraud prevention. A recent survey by the Association of Certified Fraud Examiners found that internal audit is one of the most common methods of detecting fraud.
Some of the benefits of co-sourcing/ outsourcing an internal audit function include; cost efficiency, access to diverse industry and professional skillsets and above all, greater independence.
Internal control advisory services
We provide assistance on all types of risk and control related solutions, including documentation of policy and procedure manuals (governance, risk and internal control training) and assistance in setting up in-house internal audit functions.
Pre-IPO assistance
The enhanced SGX listing rules require issuers to have a robust and effective system of internal controls that address financial, operational and compliance risks. The board and audit committee are now required to assess the adequacy of the internal controls at the time of listing. Moving from a private to listed company may involve major transformation and it is advisable to undertake a review of the internal control systems early in the application process.
Quality assurance review of internal audit functions
We provide an external quality assurance review or a validation of the internal self-assessment to enable your in-house internal audit function to meet standards set by the Institute of Internal Auditors.
Sarbanes-Oxley (SOX-404) advisory services
Organisations registered with the United States Securities and Exchange Commission (SEC) are required to comply with SOX-404. We offer assistances in areas of scoping, documentation and evaluation of internal control over financial reporting.