Pre-Examination Reviews and assessment (PERA)
We conduct pre-regulatory compliance examinations coaching and testing and provide preparedness assistance
Conduct post regulatory compliance examination remediation
We manage regulatory examinations to ensure efficient production of documents and reduce the regulatory burden, through four stage process involving:
- Pre examination planning- risk assessment and scope
- On site examination and testing of compliance program
- Compilation and vetting of analysis and findings with senior management
- Delivery of a written report and regulatory risk assessment, to identify potential violation or deficiencies to reduce the regulatory burden
External Quality Assurance & Performance assessment review of Compliance (EQAAR)
We develop a quality Compliance function, that delivers business assurance, identifies business opportunities and enhances organizational value;
We provide real-world examples and industry best practices compliance function. Provide compliance support for new products, services and marketing campaigns and assist with compliance policy and procedure development;
We make sure of the followings:
- Effectiveness of Compliance within the company’s corporate governance framework
- Design and implementation of efficient Compliance monitoring program, Compliance manual, risk reporting and activities plan
- Comparing the company’s Compliance functions with similar companies and best practice
External Quality Assurance & Performance assessment review of IAF (EQAAR)
Our external quality assurance and performance assessment of IAF, is based on IIA Standards. We review the internal control framework, including management reporting, independent transaction audit and key metrics monitoring.
Our external Quality Assessment Review can facilitate the transformation of an internal audit department into a more strategic business partner and value-added activity.
The process can identify improvement opportunities and provide counsel to the chief audit executive and staff for improving their performance and services, as well as promoting the image and credibility of the internal audit activity.
Internal Audit & Compliance Co-sourcing (IACS)
Through Co-sourcing, we provide the opportunity to tap into specific skill sets, industry knowledge and resources achieving a level of flexibility that can be critical in effectively dealing with a range of operational issues as follows:
- Conduct periodic reviews of the Company’s IA & or compliance P&P, edit, revise and/or create policies and procedures as necessary to satisfy current rules and regulations
- Organize and perform a comprehensive review, on an annual basis, of the adequacy of coverage and effectiveness of implementation of the Company’s IA and or compliance program
- Prepare a written report for Management on the scope, processes employed and material findings and recommendations resulting from the review
- Perform and document web based review and monitoring of key operational processes and controls, as appropriate to the circumstances
- Provide 50 hours of telephone and email consulting support to address questions related to the Company’s IA & or compliance other matters
- Provide up to 10 hours of assistance in the preparation and response to any regulatory examinations, inquiries or sweeps
External Quality assessment Shariah Review (EQASR)
We provide an independent judgment to ensure that all the products, services and operations carried out by the Company do not conflict with Shariah guidelines, and principles.
We analyze the products, monitor the process and recommend improvements and prescribe the best practices to stay compliant, in accordance with Shariah principles.
Our audit methodology encompasses a thorough preliminary analysis of the Shariah structure, and monitor the compliance in real time.
IFRS Convergence (IFRS)
Konsult support the new requirements of IFRS, addresses the data and process governance challenges introduced with IFRS, which requires greater integration of actuarial and accounting systems, creating significant operational challenges related to data, processes, governance, and auditability.
The following will be done:
Accounting and reporting
- Development of new IFRS accounting policies and procedures
- Gap analysis between information required and currently available
- Consideration of impact on statutory reporting and tax accounting
Systems and processes
- Identification of changes required to source systems
- Understanding the impact on other strategic initiatives in your company (e.g. Quality Close, & other system integration & upgrade initiatives)
- Understanding steps to support parallel reporting
Business
- Understanding the financial and business impacts of IFRS conversion
- Determination of possible actions to mitigate the volatility of results under IFRS
- Informational support at all levels in the business
Due diligence services (DD)
Konsult delivers an efficient and consistent due diligence services. We have a team of different professionals to deal with the aspects of due diligence. The team is composed of financial, business and legal professionals who have the skills, qualifications, experience in M&A, and in performing due diligence.
We will provide a whole slew of valuable information as follows:
- The structure of the company being targeted for acquisition
- The flow of operations within the target company
- The culture governing the organization of the target company
- The current human resources in use by the target company
- The relationships of the target company with its suppliers, customers and other partners
- The competitive position of the target company
- The goals and outlook of the target company
