An effective system of internal control demands more than rigorous adherence to policies and procedures: it requires the use of judgment. Management and boards of directors use judgment to determine how much control is enough Risk is now defined as the “effect of uncertainty on objectives”.

The growth of a globe trotting mobile workforce equipped with laptops and other devices is bringing many benefits to organizations. Businesses have become increasingly reliant on timely access to digital information even while travelling. Remote access to business information is generally facilitated through the use of portable electronic devices which can offer the traveler both communications services and access to information, even when this information is stored on internal corporate information technology infrastructure.

For those of you looking to make a career in risk and management, the gold standard is FRM. Recognised globally, it is an invalable certification that is bound to get you noticed. Riskpro can help nurture budding professionals by providing them with the online E Learnings for FRM.

1) All our training objectives were met. Thanks for conducting a great training program. (Major Private Bank). 2) We were able to identify our major risks during the training sessions. The step by step approach helps to understand the concepts clearly (A leading Retail Company) 3) We carried our company wide training for senior, middle and junior management in most functions. The 2 Day training program was repeated as five batches totalling 10 training days. (Major PSU Enterprise) The above are some of the Testimonials received by Riskpro for its training quality and depth.

Riskpro can help you prepare an effective and practical contingency to protect your services for epidemics or pandemics. If you already have a plan Riskpro can audit the plan whether it is fit for purpose or not.

From Basel I to Basel II, the transition was more of fine tuning that was not a result of any major economic shock. However, the transition from Basel II to Basel III is a direct result of the financial crisis and the journey is likely to be painful over the next 5-7 years. Despite that Basel II is very much applicable to banks and auditors are required to audit Banks covering all aspects of Basel II.

Organisations are experiencing the need for increased focus on risk management. The challenge for companies is to evaluate how much risk a company can take to meet as it strives towards achieving the organisation’s objectives and delivering value.

Riskpro provides flexible internal audit services. We can be involved either or out-sourced basis or as an integral part of your organization or a mix of the two ends. Whichever structure suits you best, our services will be top class and provided by knowledgeable professionals with deep industry expertise. • Conduct diagnostic study and gap analysis of present System. • Developing and implementing an enterprise wide integrated Internal Control Framework • Formulation of Internal Control policy & User Manual of the Organization. • Establishing a Common Internal Control Culture. • Defining Internal Control Objectives and linkage of the same with the Corporate Objective and Business Plan. • Identification & Classification of Risk • Establishing detailed process covering mainly the risk assessment, risk management and risk monitoring mechanism.

The Companies Act, 1956 has been replaced by the Companies Act, 2013. The new Act has cast many new reporting requirements on the statutory auditors of companies. One of these requirements relate to ‘Reporting on Internal Financial Controls’ under Section 143(3)(i) of the Companies Act, 2013 which requires the auditor to state in his report whether the company has adequate internal financial controls system in place and the operating effectiveness of such controls.

Organisations are experiencing the need for increased focus on risk management. The challenge for companies is to evaluate how much risk a company can take to meet as it strives towards achieving the organisation’s objectives and delivering value.

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