Audit and Assurance Archives - I.P. Pasricha & Co.

Understanding AI and GenAI: Opportunities and Risks for Internal Audit

Artificial intelligence (AI) has quietly become part of everyday life, with many people already using it without even realizing. From tools like auto-complete and spellcheck to smart scheduling and data visualization, AI-powered technologies have been enhancing productivity and efficiency for years. However, the recent development of Generative AI (GenAI) has introduced new possibilities and challenges,...

Upma KheraSeptember 29, 2024

Accounting Advisory 10

Transforming Internal Audit: 5 Key Insights for Bridging the Risk Management Gap

In today’s dynamic business environment, internal audit teams are facing a rapidly changing risk landscape. With increasing regulatory demands and technological advancements, internal auditors must adapt to deliver more strategic value beyond traditional functions. Our latest research sheds light on how internal audit teams can modernize their roles to bridge the gap between established practices...

Upma KheraSeptember 29, 2024

Accounting Advisory 10

How Internal Audit Teams Can Accelerate AI Adoption

Artificial intelligence (AI) is rapidly transforming how businesses operate, and internal audit teams are no exception. As organizations seek greater efficiency, accuracy, and insights, AI offers a promising path forward. However, successful AI implementation in internal audit requires more than just adopting the latest technology—it calls for a strategic and thoughtful approach.Below are several steps...

Upma KheraSeptember 29, 2024

Audit and Assurance 21

How Auditors Are Leveraging AI to Transform Their Work

Artificial Intelligence (AI) is revolutionizing the auditing profession, offering unprecedented access to data and enhancing the ability to focus on professional judgment and analytical tasks. Here’s how AI is transforming the audit landscape. The Power of AI in Auditing Auditors are increasingly adopting AI to improve efficiency and accuracy. Traditional auditing involves manually reviewing data...

Upma KheraMay 23, 2024

Audit and Assurance 21

Ensuring Compliance in the Adoption of (IFRS) to an MNC Client

Case Study on Ensuring Compliance in Adoption of (IFRS) to an MNC Client Our MNC client, a market leader in multiple countries, encountered complexities in financial reporting due to diverse accounting standards across regions. They recognized the importance of IFRS adoption to streamline financial reporting, improve transparency, and enhance credibility with stakeholders. However, the client’s...

IPPC GroupSeptember 4, 2023

Audit and Assurance 21

Developing a Whistleblowing Framework in Nonprofit Entities

Case Study on Providing Litigation Support under ROC, FEMA & RBI to the Construction Industry Our client, a prominent nonprofit organization, was concerned about the lack of a robust whistleblowing framework within their entity. The absence of a structured system to report fraud, embezzlement, and misuse of charitable funds posed a significant risk to their...

IPPC GroupSeptember 1, 2023

Audit and Assurance 21

Best Practices in Internal Audit-Comprehensive Guide to Effective Auditing

In the dynamic landscape of modern business, internal audit assumes a pivotal role in upholding organizational integrity, ensuring compliance, and fostering operational excellence. It stands as a sentinel of assurance, meticulously navigating the complexities of processes, controls, and regulations to safeguard the very core of businesses. Understanding Internal Audit and Its Importance At the core...

Ashima KhuranaAugust 11, 2023

Audit and Assurance 21

Case Study on Streamlining System and process of business and support functions of the IT Industry

Case Study on Streamlining System and process of business and support functions of the IT Industry Our client, a prominent #IT company, encountered challenges in managing and optimizing their business and support functions. The lack of standardized processes and documentation led to inefficiencies, inconsistencies, and increased operational costs. Additionally, the client struggled with outdated systems and technologies,...

Ashima KhuranaAugust 3, 2023

Audit and Assurance 21

Implementing IFRS Conversion

Case Study On Implementing IFRS Conversion The #textile #sector is a highly competitive and constantly evolving industry. The global nature of the industry and its complex supply chains require standardized accounting practices to ensure comparability and consistency in financial reporting. Implementing International Financial Reporting Standards #ifrs is critical for textile companies to stay competitive and...

Ashima KhuranaApril 27, 2023

Audit and Assurance 21

Fraud Prevention & Setting up Fraud Control Unit

Case Study On Fraud Prevention & Setting up Fraud Control Unit Our #client , a leading #fintech company, was facing #challenges in #fraud prevention and control. They were experiencing high instances of fraud, which impacted their financial stability and reputation. Their existing fraud prevention and control systems were not adequate, and they lacked the necessary...

Ashima KhuranaApril 27, 2023

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Financial Statement Audit

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Governance, Risk & Compliances

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Business Establishment

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Financial Statement Audit

Accounting Advisory

Governance, Risk & Compliances

Forensic Audit & Fraud Investigation

Business Establishment

Transaction Advisory

Technology Solutions

Financial Statement Audit

Accounting Advisory

Governance, Risk & Compliances

Forensic Audit & Fraud Investigation

Business Establishment

Transaction Advisory

Technology Solutions

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