Prodigy Risk Advisory is a one-stop consulting service provider which caters to all your internal audit needs. Our professional services includes:-
Internal Audit;
Data Analysis;
Training for Internal Auditors;
Implementation of Continuous Auditing /Monitoring;
Implementation or review of Corporate Governance;
Development or implementation of Enterprise Risk Management Framework;
Review of existing Enterprise Risk Management Framework;
Implementation of Control Self Assessment;
Review or documentation of Standard Operating Procedures; and
Quality Assurance Review for in-house internal audit function.
Risk-based Internal Audit Planning
The planning begins by identifying enterprise risks in business units and activities. Risks are then measured by their likelihood and impact. The units/activities are assessed to determined their ratings and priorities. A resulting corporate risk profile forms the key basis for developing an internal audit plan. Any management, operational and regulatory matters shall be evaluated during the planning.
Our approach is in accordance with the recommended International Standards for the Professional Practices of Internal Auditing, established by The Institute of Internal Auditors, Inc. Using this approach, we assure that your internal audit plan, audit projects and risk assessment are in concert and alignment with your business and operational risks. Our consultant can help you to get started relatively painlessly, lending creditability to your audit plan, enhance your audit organisation’s profile, and assure you meet the Professional Practice Standards.
ERM
We can help your organisation by designing a proper ERM framework according to COSO or other international recognised frameworks. Tapping on our consultants’ extensive experience and expertise, we can help you develop your corporate risk policy, risk tolerance, risk committee/function, and evaluate your corporate risk profiles and risk culture. Even if your organisation has adopted an ERM framework, we can provide assurances, working with your internal auditors if needed, to your management and directors on the effectiveness of your risk management processes.
Governance
Prodigy can work with companies at an enterprise wide level to improve business ethics, effective internal controls and corporate governance. Our consultant’s work is consistent with COSO in designing an integrated framework for defining the essential risk management components of a company. This specialised area of governance is becoming more crucial as governments introduce legislation (for example the Sarbanes-Oxley Act) to prevent fraud from occurring and to ensure company compliance.
Program Implementation
It is a requirement by law for companies to have a risk management framework. In utilising our services, the internal risk management and senior management teams have access to world-class risk specialists. Our consultant can define the risk management.
Other Professional Services
The Prodigy Group also work with external parties in providing the following services:-
Fraud Risk Management
Huge costs are associated with a fraud occurring. Beyond losses directly from the fraud, there are significant costs associated with investigation, litigation, legal, regulatory issues, public relations, staff issues and management time. Our consultants are able to help your organisation strengthen your business and maintain good corporate governance. With our consultants' extensive experience servicing the needs of financial services and multi-national clients in Asia, Australia, the United States and Europe, we are sure in providing a proven approach to identify fraud exposures and avoiding the catastrophic consequences of fraud. Let us begin stress test your control environment and identify loopholes that lead to fraud succeeding.
Business Continuity Management
Many organisations have neither the expertise nor resources to develop and establish a BCM. In Prodigy, our consultants have extensive experience and expertise, and we can assist your organisation to develop a BCM (BCP/IT DRP). Alternatively, if you have BCM, Prodigy can work with your internal auditors and IT organisation, or independently, to perform a contingency audit and assurance. Our independent audit results are then report to your management or board to give them added assurance.
