The business environment continues to surprise even the most seasoned of market analysts and it is hardly surprising that risk compliance is one of the most debated corporate topics. Multinational businesses are under greater scrutiny from supervising agencies and and national regulatory bodies. In this light, the importance and responsibility of organizational audit programs is much greater than the earlier decades. As we have seen in our association with various clients, the role of Internal auditors has often seen them wearing different hats at different times – due to various contemporary and historical factors like changing financial and tax regulations, currency exchange and laws, globalized and diversity of workforce, and not to mention the ever increasing types of risk compliance.
The fluctuating business environment coupled with the unpredictable risk factors has made the task of internal auditors not only challenging but also pivotal to the growth and smooth functioning of the different business units of an organization. enQbate has been working within the most complex and unregulated business environments and its auditing team has been at the center of the action – where the survival of the firms at stake in most of the cases.
Every organization understands the value of risk ‘assessment and management’ and it is at the top of the priority list for most of the CFOs, auditing bodies and major stakeholders. The strategic importance of internal auditing process cannot be emphasized more and it is hardly surprising that the internal auditors are often the core member of the strategic think-tank.