Proposal to provide Internal Audit services

Proposal to provide Internal Audit services

1. A proposal to provide Internal Audit services

2. We are committed to act as trusted business advisors to ContiTech India leveraging our knowledge bases, specialists and industry experience in order to provide ideas, solutions and results, and thereby assist the stakeholders in achieving their goals.”

3. Contents About the firm An overview Services Team Credentials Our Approach Engagement Team

4. Why Us Over 17 years of experience in providing quality services Team of qualified professionals Maintaining motivated workforce Value added solutions to clients

5. Our Values

6. Assurance Financial Statements Review Corporate Governance Companies Act IFRS/IAS Ind AS/Indian GAAP Risk Advisory Risk & Internal Controls Internal Audit Sox Advisory SOPs Financial Advisory Due Diligence M&A / Corporate Structuring Private Equity/ Capital Market Money Market FOREX Advisory Devising Hedging Strategies & Evaluating structures Building MIS backbone Monitoring of Forex Exposure Devising and evaluating hedging structures Real time market updates Regulatory guidance ( FEMA / RBI) Accounting / Outsourcing Services Accounting Business Setup Services Outsourcing Facilities Taxation

7. Who We Are Our Team…

8. Our A pproach – Emphasis on risks Key features of our approach: Establish engagement objectives and client expectations in consultation with audit committee/management setting out: Timelines Audit Scopes Deliverables Focus on managing key risks and achieving the business objectives Define the key risks Estimating the probability Assess impact on business drivers Define priorities and actions to mitigate them Help achieve a high-functioning, integrated risk and control environment that will: Help decrease in complexity and cost Improve performance Protect company’s existing assets Methodology and Deliverables We have structured methodology starts from mapping the corporate vision to audit deliveries and value-add. Benefits for the organization from outsourcing to us: Global best methodology for handling Internal Audits Relevant business / process / internal audit expertise and access to best practices Structured deliveries with performance indicators and terms of delivery Saving costs and efforts for the organization and help management concentrate on core competency Our strong methodology also includes taking the input of the management and process owners to design a solution that means value addition. Our deliverable will give a road map to make the necessary process improvements that gives a big seat for practicality of implementation of recommendations. Cont …

9. Our A pproach – Audit process Pre Audit Opening General Process Understanding Data Analysis and Summary Preparation Planning of Audit   Detailed Walk Through Detailed Walk Through Documentation of Walk Through Results   Risks, Checklists, Audit Programme Listing of Risks and Audit Programme (Checklists) Generation of Exceptions through Analytics Planning of Audit Programme Delivery Execution of Audit Programme Compilation of Observations and Draft Reporting Quality Check of adequacy of Evidences and Work Paper Linking Supervisory Review and Confirmation Report Compilation Preparation of Audit Report Circulation of the Draft Report for Auditee Comments Collection of Auditee Comments   Exit Meeting Presentation and Action Plan Preparation Updating Action Plan into the Draft Report   Audit Report contains the following information: Executive summary High, Medium, Low Risk Areas classified separately Detailed audit observations, covering Risks, Impact, Recommendations, Auditee Comments, Annexure of evidences Audit Implementation Action Plans with time lines and responsibility shall be updated after management discussion. Presentation to management Cont …

10. Our A pproach – Reliance on technology Substantial reliance on the efficiencies of information technology (IT), to enable an audit that is responsive to the rapidly changing environment. As many companies face considerations in their internal audit processes, Our approach will need to understand which IT trends to consider in critical internal audit plans, including which of the following IT risk assessment techniques apply to the organizations’ respective challenges and assessment needs. The following key IT internal audit considerations are aligned with, and designed to help ensure robust performance in the IT internal audit process Cont … Key IT internal audit considerations Information security Business continuity management Mobile Cloud IT risk management Program risk Software/IT asset management Social media risk management Segregation of duties/identity and access management Data loss prevention and privacy

11. We believe in pro-active, real-time communication across all levels of the organization Communication is critical… Information must be timely, accurate and relevant Client orientation Listen & respond to management/Audit Committee Recommend actionable solutions Develop mutual expectations Open, direct and timely Maintain independent and unbiased approach Candidly communicate our views on sensitive matters Provide continuous access to our team executives through a single point of contact Committed to constant communication – our ‘No surprises’ approach Level Purpose Timing Audit Committee/ Management Team Significant matters of auditing Findings from our process, Test of Controls work, and governance updates Business & financial risk updates Audit Reports Audit Committee Meetings CFO Team Business updates Suggestions on certain focus areas for the audit Findings from our audit and process work Accounting & technical updates Benchmarking across the industry Real Time Statutory Auditor Audit Coverage Audit procedures Annually Our commitment to communication is demonstrated by a dedicated core team of professionals representing different areas of expertise who will constantly evaluate the impact of business changes, accounting, tax and regulatory changes etc. on business and its impact on the company.