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BNK INTRANET

AUDIT & ASSURANCE

HOME > AUDIT & ASSURANCE

Our Proposed Proactive Role in Statutory Audits


 Identify Risks, optimal systems and Best Practices in the Industry

 Partner with the Accounts and Finance Team to find amicable solutions

 Put special emphasis on Compliance checks

 Timely response to any field related queries

 Help the Company by reviewing the adequacy and operating effectiveness of Internal Controls

 Offer suggestions for improvement in case of process deficiency observed

  • Obtaining third party confirmations based on the materiality of financial assets and liabilities appearing in the balance sheet.
  • Conducting audit by applying various audit tools as follows;
    • Performing analytical reviews for all Balance Sheet and Income & Expenditure Items
    • Performing various logic tests for high value items such as Interest on Fixed deposits, Payroll cost, Employee retirement and terminal benefits etc. to achieve greater comfort on critical accounts
    • Performing cut off procedures to ensure that all the receipts have been accounted correctly
    • Performing transaction walkthroughs of material accounts to ensure that controls at various levels are adequate and thereby ensuring accounting accuracy
    • Detailed verification and achieving high assurance on the compliances carried out by the enterprise in the areas of Service Tax, TDS and other applicable taxes

Internal Audit & Risk Compliance Services

How BNK can reciprocate

BNK’s Internal Audit, Risk & Compliance Services brings about our endeavor to serve as harnessing the functional effectiveness of the business operations and to check the controls in the system and act as deterrent to prevent material anomalies and thereby fostering the growth of the organization.Our approach is to carry out the risk based audit and to deliver the quality audit supported by imparting direct savings to the company and thereby achieving the real purpose of internal audit and lived up to the expectations of the management.

Our focal vision in Internal Audit is on understanding the business dynamics of the company elaborately, imbibe compliances checks along with making ourselves accustomed with the operational aspects and gamut of transactions and related controls and processes involved at every value chain activities unearth at the vertical stages of different facets of activities and at various functional levels and in a process to give synergies in terms of providing value additions to company in tangible terms.The end result of the above approach results in to proper coverage of area across the point of operations and adherence to the desired objectives of the audit per-se.

BNK IARCS professionals combine industry knowledge, experience, leading methodologies, and a performance focus to help enable internal audit, risk management and compliance. Our core services include:

  • Leveraging the concept of Propriety Audit
  • Strategic Performance Review of Internal Audit Functions across the departments / activities
  • Review of the Risks at every process / sub-processes and validating those risks with material misstatements / probable root cause analysis
  • Enterprise Risk Management
  • Governance framework, Regulatory and Compliance
  • Contractual Management
  • Optimal Funds Utilization
  • Processes Documentation, Mapping and Analysis