Yogada’s Continuous Monitoring Mechanism detects potential fraud and financial losses, ensures adherence to company policies and compliance, and reduces risk by using a Risk-based approach.
At Yogada we develop a Continuous Monitoring Mechanism which cohesively and systematically governs the operations. It ensures early detection of potential fraud and financial losses. Once this system is in place it ensures adherence to company policies.
The core of our model is the integration of company policies and expectations through our mechanism. This helps in building a framework which does not deviate from the company’s locus. This results in compliance to company expectations and further reduces any risk.
We employ our well tested model ‘Risk based approach’. This model attempts at identifying all the probable setbacks and shortcomings like fraud and redundant expenses. The aim of identifying risks is key to this process.
Our Service Benefits includes,
- Eliminating Fraud and Extra Expenditure.
- Adherence to Company Policies.
- Risk based approach minimizes errors.
Frequently Asked Questions
Yes. At Yogada, we monitor the adequacy and effectiveness of internal controls, business process and polices / SOPs. We also monitor compliances of implemented policies and SOPs. Based on the exercise, we suggest recommendations for addressing the gap / issues and track till the issue is addressed.
To ensure that our client do not face issue in implementation and leakages are addressed as soon as possible, we support them in implementation.
Every organization irrespective of their maturity level, Internal audit / monitoring supports and ensures that implemented process works in a desired manner and no surprises comes to the management.
Primary objective of internal audit / monitoring is to ensure that controls are working efficiently to achieve organization’s goal and objective. In addition to this while reviewing the process, we at Yogada adopts the risk based approach to cover all the grey areas with a potential leakages and cost reduction opportunities. Hence, such coverage reaps both short and long term benefit / value to the organization.
Our Other Services
Standard Operating Procedures (SOPs)
We create technology driven design structure and provide appropriate training.
IFC/ SOX
Test & Update. We create and assist in implementing the framework.
Internal Audit
Develop Continuous Monitoring to help detect potential fraud & process risk.
Pre-Payment Audit
Ensuring timeliness of Project Phase by mitigating extensions & financial cost.
Diagnostic Review
Creating Synergy in management of established processes and identifying profit opportunities.
Physical Verification/ Wall-to-wall count
Identify probable deviations by verification of physical assets.
Due Diligence
A survey of compliance position and true book value to avoid additional costs.
Process Optimization
Cost efficient methods driven by state-of-art technology. Designed on a case-to-case basis.
Dashboards
Bird-eye view of mandatory everyday business practices. An overview of organization’s operations.
Commercial Drafting
Systematic drafting of agreements and contracts to strengthen legal position against fraudulent practices.