- Identification of relevant risks
- Evaluation of key risks that will prevent the company from achieving its objectives.
- Assessment of the impact and likelihood of the risk
- Identification & implementation of a solution to mitigation the risk;
- Monitoring & coordinating the risk management process & outcome.
Our solution not only focuses on financial & regulatory compliance, but it also takes in all areas of business risks throughout the entire organisation.
Once the enterprise wide risk profile is created, we would develop & help you monitor the risk solution to mitigate the risk faced by the organisation. We help our clients manage the business better, improve enterprise wide processes, provide better information on decision making and therefore create a competitive advantage.
Internal audit is an independent appraisal function to examine and evaluate the activities of the company to give the management the assurance that the processes and the internal controls that has been put in place is sufficient in order to meet it objectives.
We are here to assist and add value to the board, audit committee, management and other members in the organisation in discharging their responsibilities as well as to move on to the next level in corporate governance.
Our internal audit service applies to listed and non-listed companies as a way of reassurance given to the board & management.
Just imagine whether the following questions are relevant to you?
- Is your organisation making objectives assessment towards achieving the goals?
- How sure are you that whatever controls you have put in place have been fully implemented?
- Are there any shared ideas of best practices?
- Do you have a counsel for improvement on controls, practices procedures, performance and risk management?
- Do you have a procedure in finding ways to reduce cost and realign business processes?
- Are you documenting practices in a “Standard Operating Manual” format?
Business continuity or disaster recovery planning is a key contingency or risk management strategy.
Should anything happen to your principal facility or workplace, where would you be able to continue with delivering the service or products and who and what will you need to make it all fall into place in a new and unfamiliar environment?
The answers is to have a clear methodology of what are your risk exposure, critical activities, information technology needs etc and develop a recovery strategy in the shortest possible time in order to be able to resume some of your business activities.
Our programme will help deliver a plan with the specific staff and management trained about the direction and implementation process to assure the stakeholders that effective controls are in place.
If the increasing costs of doing business is your concern, perhaps we can help you create value, reduce waste thus maximise your profit through a methodological streamlining/process improvement program via the following:-
- Analyse the cost component and its trend.
- Establish process ownership in term of responsibility / and accountability
- To identify the people to be responsible for the performance, changes, failure & success.
- Standardise and streamline similar processes. To improve the process, we study the work process, flow of the records, that create the value for the company instead of directly cutting down the dollars and cents.
- Use benchmarking or other techniques to continuously monitor the cost and results.
- Establish framework for financial authority limit.
- Evaluate the cost & benefits of the process.
- Suggest ways to reduce cost & realign the process.
- Implementing cost saving effort.
Document the way you work. Build a library of how to, when to and why to of the processes that you are currently practicing – either paper based or electronically.
Among the advantages of this documentation are as follows:
- Employees have confidence in their work when the way to do, when to do and why is there a need to do a task is properly documented. This improves productivity!
- Information is effectively channeled to the person concern
- Less mistakes and lower training costs
- Staff learn to teach themselves in their own time
- Having a nightmare and a painful ritual to complete the employee appraisal form?
- Inconsistent criteria applied in reviewing the employee’s performance?
- Overlapping of duties carried out by the respective staff?
If you encounter any of the above issues and are confused about what to do, call us.
Total Advisors will develop a structured approach to consistently review your employees’ performance that will also be in line with their job responsibilities. We can assist you in developing Key Result Areas that is agreeable between the employers and the staff as a means to assess performance that are in line with the key objectives.
We can also help you to realign the organisation structure after streamlining the respective function. The company will be able to minimise the waste of unnecessary resources, enjoy cost saving on a streamlined organisation structure as well as improved efficiency on the day to day operation.
Effective 1 January 2002, The Institute of Internal Auditors, Internal Standards for Professional Practice of Internal Auditing (Standards) requires that external assessment (quality assurance review) be conducted at least once every 5 years by a qualified, independent reviewer from outside the organisation. IIA members are expected to follow this mandatory standard and their organisations have to perform an assessment to be in compliance by 1 January 2007.
The external assessment can be totally outsourced or you can conduct an internal review and then have that review validated by an accredited external reviewer. To have hassle free, at Total Advisors, we have qualified personnel accredited by the IIAM to establish the framework & criteria for internal assessment as well as conducting external quality assessment to evaluate compliance with the Standard, the use of best practices, and the efficiency and effectiveness of the internal audit activity of the company.
Human resource management is the crux of any business. As valuable knowledge and function forms the core business operation, people in the organisation helps to either maximise or minimise the growth of an organisation.
We provide the following services
- Maintenance of personnel records
- Drafting, annual review and revision of employee handbook
- Job description process
- Designing Key result areas for employees to measure performances
- Manpower planning and human resource utilisation