Risk Advisory

Business and risk go hand in hand. Nonetheless, with proactive steps taken to identify and fix the gaps in internal controls, it is possible to mitigate business and functional risk to a great extent. TCA (through its member firm) has expertise in identifying & mitigating these business & functional risks, optimizing costs, building efficiencies in processes by strengthening internal controls and systems, etc.

Additionally, based on management’s requirements, we devise and carry out special diagnostic reviews to assist our clients in identifying the root cause of key challenges faced by the business. After conducting detailed reviews, we formulate strategies to address the challenges faced and enable optimized growth.

Our risk advisory services inter-alia include:

  • Internal audit to identify risks in each business function, perform process walkthroughs, documentation review, data analytics, identifying areas of risk due to gaps in the process and scope of improvement in operations

  • Support for testing of internal control over financial reporting as per provisions of Companies Act 2013

  • Development and implementation of standard operating procedures, accounts and systems manuals to introduce best practices

  • Process and operational audits to appraise the effectiveness, efficiency, and sufficiency of systems and controls of a specific process or division

  • Forensic review and fraud risk management

  • Follow-up reviews to ensure the recommendations / suggestions from past reviews are correctly implemented