HRK's internal audit team works with the audit committees, management and audit executives of, public or private, companies to assist them in managing the Internal Audit activities on a fully outsourced or on co-sourcing basis. Our Internal Audit services are focused towards:
With the vast experience of HRK Advisor's top management team in Internal Audit, our internal audit methodology is customized to align with the client's goals and objectives, simultaneously ensuring high quality standards as per globally accepted Internal Audit practices and frameworks.
Aimed at specific objectives, as per management’s directions, to analyze the performance of various processes, assessment of methods and policies, optimum utilisation of business resources, tactical and strategic planning and employees & organizational improvement. Our management audit services involve review of aspects like organizational objectives, policies, procedures, structure, control and system in order to check the efficiency or performance.
HRK Advisor’s service spectrum under Management Audit is diversed, which mainly includes the following:
HRK Advisor’s in-depth knowledge base of processes, controls and ERP systems equips our team to execute niche consulting assignments on Business Process Re-engineering (BPR). Our BPR projects are structured to optimize end-to-end business processes thorough in-depth study/understanding of existing processes, walk-through of live transactions and activities in ERP systems as well as on the floors and data analytics.
Two major factors creating a difference in HRK Advisor’s BPR deliveries are:
Standard Operating Procedures (SOPs) are the backbone of the business processes, so is the critical component of organization’s overall Governance, Risk and Control framework. HRK Advisor’s team is having a wide exposure in designing and documenting SOP for various large and mid-size corporates across industries.
Although, our SOP documents are customized depending upon the needs of the organizations, however, HRK Advisors ensures designing interactive, crisp and task-oriented documents to help the users to perform their tasks and duties efficiently & effectively.
Our process of designing SOPs ensures constructive involvement of Process Owners and their team, this approach helps in getiing quick buy-in from the execution team and swift implementation of laid down procedures.
HRK Advisor's role as an Internal Auditors of large and mid-size corporates rightly places us in assisting organizations in effectively complying to the enhanced requirements of Internal Financial Controls (IFC) / Internal Control Over Financial Reporting (ICFR).
We assist the Management in ensuring that Internal Controls over Financial Reporting are adequate and operating effectively, also report to Audit Committees, Independent Directors and provide required inputs to Statutory Auditors for the purpose of reporting in Auditor’s Report.
Broad structure of our assignments for ICFR includes:
HRK Advisors has developed a specialized service product for assisting organizations in monitoring and safeguarding of its fixed assets including review of FAR (Fixed Assets Register), Codification of Assets, developing new technology based Asset Identification Tags, three way linking i.e. Finanical Records – FAR – Physical Asset Records and physical verification of assets.
HRK Advisors has expertise in managing audits of retail locations (Apparel Brand’s Retail Stores, Malls / Shopping Complex, Entertainment Properties like Cinema Halls, Multiplexes, Hotel Chains and Resorts etc.) spread across the country in a cost-effective manner but yet uncompromising the quality of services. The key features of HRK's Advisor's Retail Location audit services are:
HRK Advisors provides specialized Pre-payments Audit Services for clients having a large number of payments, centralized processing of payments for multiple locations etc. Pre-payments audit features the following aspects: