R SOLUTIONS | RISK

An Intuitive Risk Management
Framework

Risk Assurance Management (ICoFR/ SOX)

Consark’s risk platform has built a risk based framework designed to allow customers to manage its SOX/Internal Control over Financial Reporting compliances. The solution aims at attending to all your needs in relation to maintaining and updating your internal control framework right from setting up the design upto testing the operating effectiveness of various financial controls.

 

Key takeaways which customers get to experience are:

  • Setting up the internal financial control framework in a matter of weeks
  • Augmenting efforts to test the operating effectiveness of internal financial controls
  • Access to standard industry benchmarked risk and control matrix templates
  • Access to testing templates

Process Assurance Management

The solution largely focuses on enabling internal audit teams manage their engagements effectively.

The primary focus on this solution is to set up a seamless work flow which gives real time access to all stakeholders with regards to the audit by clearly placing onus on responsibility and accountability.

Some of the key features of this solutions are:

  • Transparent work flows giving real time updates on progress
  • Access to controllership bots for automated testing
  • Potential to develop further automated testing routines/procedures deployable in a matter of days
  • Customisable automated reporting mechanisms

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Conserve – Controllership Bots

Controllership bots which can carry out extensive analytics churning out real time insights into exceptions for due remediation. Customers can also design bespoke controllership bots which can be deployed with fairly short turn around times. Our bots follow the key advantage:

 

  • Testing transactions more on a real time basis
  • Easy and simple to deploy with minimal front end interaction
  • Reduces man-hour efforts of audit teams
  • Extensive coverage of population rather than depending on a sampling strategy

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Conserve – Data Workflows

We have designed a work flow which allows audit teams to efficiently manage data required by the audit teams.

This work flow offers the following key features:

  • Seamless tracking of information requests
  • Escalation mechanism for due reminders & follow ups
  • Dashboard providing insights on the status of various datapoint requirements
  • Potential to integrate into your mailbox for convenience
  • Holistic solutions whether problems are data based or positions based
  • Customisable input configuration for seamless integration into your accounting systems

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Our solutions are trusted by

  • 170+ clients across 90+ business groups
  • 60% customers > 5 yrs relationship
  • Customers in India, US, UK & Singapore
  • Servicing Fortune 500, listed & private equity invested companies across sectors

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Learn how Consark.ai can help your finance teams be the real rockstars!

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